IGM Financial (IGM) Given New C$50.00 Price Target at TD Securities

IGM Financial (TSE:IGM) had its price objective lowered by TD Securities from C$52.00 to C$50.00 in a research report sent to investors on Monday morning.

Several other brokerages also recently weighed in on IGM. Barclays decreased their target price on shares of IGM Financial from C$44.00 to C$43.00 in a research note on Monday, November 6th. Royal Bank of Canada decreased their target price on shares of IGM Financial from C$54.00 to C$50.00 and set an outperform rating for the company in a research note on Monday. CIBC decreased their target price on shares of IGM Financial from C$48.00 to C$45.00 in a research note on Monday, November 6th. Scotiabank increased their target price on shares of IGM Financial from C$47.00 to C$49.00 and gave the stock a sector perform rating in a research note on Monday, November 6th. Finally, Canaccord Genuity decreased their target price on shares of IGM Financial from C$49.00 to C$46.00 in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of C$47.13.

Shares of IGM Financial (IGM) opened at C$40.24 on Monday. IGM Financial has a 12 month low of C$38.56 and a 12 month high of C$45.82. The firm has a market cap of $9,730.00, a PE ratio of 12.34 and a beta of 0.93.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be given a $0.563 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $2.25 dividend on an annualized basis and a yield of 5.60%. IGM Financial’s payout ratio is currently 69.02%.

In other news, Director Jean-Claude Bachand acquired 1,000 shares of IGM Financial stock in a transaction that occurred on Tuesday, December 5th. The stock was purchased at an average price of C$44.35 per share, for a total transaction of C$44,350.00.

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IGM Financial Company Profile

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.

Analyst Recommendations for IGM Financial (TSE:IGM)

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