IGM Financial Inc. (TSE:IGM) Receives C$68.57 Consensus PT from Analysts

IGM Financial Inc. (TSE:IGM) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is C$68.57.

A number of research firms have recently weighed in on IGM. Royal Bank Of Canada upped their price target on shares of IGM Financial from C$51.00 to C$65.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. TD Securities upped their target price on shares of IGM Financial from C$73.00 to C$76.00 and gave the stock a “buy” rating in a research report on Tuesday, February 17th. National Bank Financial lifted their price target on shares of IGM Financial from C$68.00 to C$82.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. BMO Capital Markets boosted their price target on IGM Financial from C$57.00 to C$68.00 in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce upped their price target on IGM Financial from C$61.00 to C$68.00 in a report on Wednesday, January 21st.

IGM Financial Stock Up 1.6%

IGM opened at C$69.31 on Tuesday. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. IGM Financial has a 12 month low of C$38.89 and a 12 month high of C$69.48. The stock has a market capitalization of C$16.24 billion, a P/E ratio of 14.94, a P/E/G ratio of 4.09 and a beta of 1.10. The business has a 50 day simple moving average of C$65.19 and a 200-day simple moving average of C$57.39.

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

IGM Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 30th were issued a $0.5625 dividend. This represents a $2.25 annualized dividend and a yield of 3.2%. This is a positive change from IGM Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, December 30th. IGM Financial’s dividend payout ratio is currently 48.49%.

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.