IGM Financial (TSE:IGM) Price Target Raised to C$87.00

IGM Financial (TSE:IGM) had its target price lifted by Scotiabank from C$84.00 to C$87.00 in a report issued on Thursday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets increased their price target on IGM Financial from C$72.00 to C$80.00 in a research report on Wednesday, July 15th. National Bank Financial lifted their price objective on IGM Financial from C$85.00 to C$91.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce boosted their price objective on IGM Financial from C$79.00 to C$85.00 in a research note on Friday, July 10th. Royal Bank Of Canada increased their target price on IGM Financial from C$77.00 to C$80.00 and gave the stock a “sector perform” rating in a report on Monday, July 13th. Finally, TD raised their target price on IGM Financial from C$80.00 to C$86.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$82.00.

IGM Financial Stock Up 0.8%

IGM opened at C$87.16 on Thursday. The firm’s 50-day simple moving average is C$81.22 and its 200-day simple moving average is C$73.19. The company has a debt-to-equity ratio of 82.59, a quick ratio of 0.31 and a current ratio of 1.28. IGM Financial has a twelve month low of C$44.69 and a twelve month high of C$87.99. The firm has a market cap of C$20.26 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 4.09 and a beta of 1.03.

IGM Financial (TSE:IGM) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported C$1.41 EPS for the quarter. The firm had revenue of C$1.07 million for the quarter. IGM Financial had a net margin of 29.82% and a return on equity of 12.91%. Equities research analysts anticipate that IGM Financial will post 4.006816 EPS for the current fiscal year.

IGM Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 31st were issued a dividend of $0.62 per share. The ex-dividend date was Monday, June 29th. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. IGM Financial’s payout ratio is currently 47.48%.

Insider Buying and Selling

In other IGM Financial news, Director James Patrick O’sullivan sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of C$77.90, for a total value of C$54,530.00. Following the completion of the sale, the director owned 93,248 shares of the company’s stock, valued at approximately C$7,264,019.20. This represents a 0.75% decrease in their ownership of the stock. Insiders have sold a total of 144,039 shares of company stock valued at $11,327,486 over the last ninety days. 66.58% of the stock is currently owned by corporate insiders.

Key Headlines Impacting IGM Financial

Here are the key news stories impacting IGM Financial this week:

• Positive Sentiment: IGM Financial reported C$263 million in second-quarter net earnings, providing a fundamental catalyst for the recent strength in the shares. IGM posts $263M in Q2 net earnings
• Positive Sentiment: TD raised its price target on IGM from C$92 to C$94 and maintained a “buy” rating, implying further potential upside based on the cited reference price. TD raises IGM price target
• Positive Sentiment: Royal Bank of Canada increased its target from C$80 to C$89 while retaining a “sector perform” rating, signaling improved valuation expectations despite a more cautious recommendation. Analyst ratings
• Positive Sentiment: Scotiabank lifted its target from C$84 to C$87 and kept a “sector perform” rating, modestly improving its valuation outlook. Analyst ratings
• Neutral Sentiment: Mackenzie Investments is reducing the number of investment teams as part of an artificial-intelligence initiative. The move could improve long-term efficiency and margins, but restructuring and execution risks may limit the immediate benefit. Mackenzie reduces number of investment teams as part of AI push
• Neutral Sentiment: IGM plans to sell its Winnipeg headquarters and move into leased space at Portage and Main. Proceeds and lower property-related costs could help, although the transaction also reflects a shift toward leasing rather than owning corporate real estate. IGM Financial to sell off Winnipeg headquarters

About IGM Financial

Mackenzie Investments (“Mackenzie”) is a Canadian investment management firm with approximately $244 billion (CAD) in assets under management as of December 31, 2025. Mackenzie seeks to create a more invested world by delivering strong investment performance and offering innovative portfolio solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, it is a global asset manager with offices across Canada as well as in Beijing, Boston, Dublin, Hong Kong and London.