IGM Financial’s (IGM) “Outperform” Rating Reiterated at Scotiabank
Scotiabank restated their outperform rating on shares of IGM Financial (TSE:IGM) in a research report released on Tuesday. Scotiabank currently has a C$50.00 price target on the financial services provider’s stock.
Other analysts have also recently issued research reports about the stock. Desjardins raised their price objective on shares of IGM Financial from C$48.00 to C$50.00 in a report on Tuesday, October 31st. Barclays raised their price objective on shares of IGM Financial from C$41.00 to C$44.00 in a report on Monday, October 30th. CIBC cut their price objective on shares of IGM Financial from C$48.00 to C$45.00 in a report on Monday, November 6th. TD Securities raised shares of IGM Financial from a hold rating to a buy rating and raised their price objective for the stock from C$48.00 to C$52.00 in a report on Monday, November 6th. Finally, BMO Capital Markets restated an outperform rating and set a C$48.00 target price on shares of IGM Financial in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of C$46.19.
Shares of IGM Financial (TSE IGM) opened at C$44.76 on Tuesday. IGM Financial has a 1-year low of C$37.91 and a 1-year high of C$45.82.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.563 per share. The ex-dividend date is Thursday, December 28th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.03%. IGM Financial’s dividend payout ratio (DPR) is presently 69.02%.
In other IGM Financial news, Director Jean-Claude Bachand bought 1,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were acquired at an average cost of C$44.35 per share, for a total transaction of C$44,350.00.
About IGM Financial
IGM Financial Inc is a Canada-based financial services company. The Company’s principal businesses are Investors Group Inc and Mackenzie Financial Corporation, which operate within the advice segment of the financial services market. It operates in three segments: Investors Group, Mackenzie Investments, and Corporate and Other.
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