TD Securities Increases IGM Financial (TSE:IGM) Price Target to C$76.00

IGM Financial (TSE:IGM) had its price target lifted by analysts at TD Securities from C$73.00 to C$76.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD Securities’ price target would indicate a potential upside of 14.60% from the company’s previous close.

Several other equities analysts also recently commented on IGM. Scotiabank boosted their target price on shares of IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. Royal Bank Of Canada lifted their price target on shares of IGM Financial from C$51.00 to C$65.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Jefferies Financial Group increased their price objective on shares of IGM Financial from C$50.00 to C$54.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. BMO Capital Markets raised their price objective on IGM Financial from C$57.00 to C$68.00 in a research report on Monday, January 26th. Finally, National Bank Financial boosted their target price on IGM Financial from C$68.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, IGM Financial has an average rating of “Hold” and a consensus target price of C$68.57.

IGM Financial Stock Performance

IGM Financial stock traded up C$0.24 during midday trading on Tuesday, reaching C$66.32. 301,867 shares of the company traded hands, compared to its average volume of 445,937. IGM Financial has a 12 month low of C$38.89 and a 12 month high of C$68.55. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The business has a 50 day moving average of C$64.14 and a two-hundred day moving average of C$56.34. The firm has a market capitalization of C$15.54 billion, a price-to-earnings ratio of 14.29, a price-to-earnings-growth ratio of 4.09 and a beta of 1.10.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported C$1.27 earnings per share (EPS) for the quarter. The company had revenue of C$1.05 billion during the quarter. IGM Financial had a return on equity of 12.76% and a net margin of 27.93%. As a group, research analysts predict that IGM Financial will post 4.006816 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Esther Findlay sold 800 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$57.60, for a total value of C$46,080.00. Following the sale, the director directly owned 10,276 shares in the company, valued at approximately C$591,897.60. This represents a 7.22% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 6,980 shares of company stock valued at $401,782. Corporate insiders own 66.58% of the company’s stock.

About IGM Financial

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services. IGM Financial had CAD 225.6 billion in assets under management, or AUM, and CAD 30.1 billion in assets under advisement at the end of May 2022.