IGM Financial (IGM) Price Target Cut to C$50.00 by Analysts at Royal Bank of Canada

IGM Financial (TSE:IGM) had its price target lowered by Royal Bank of Canada from C$54.00 to C$50.00 in a report issued on Monday. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the stock. Barclays increased their price target on shares of IGM Financial from C$41.00 to C$44.00 in a research note on Monday, October 30th. BMO Capital Markets reiterated an outperform rating and issued a C$48.00 price target on shares of IGM Financial in a research note on Monday, November 6th. TD Securities upgraded shares of IGM Financial from a hold rating to a buy rating and increased their price target for the stock from C$48.00 to C$52.00 in a research note on Monday, November 6th. Scotiabank increased their price target 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, CIBC decreased their price target on shares of IGM Financial from C$48.00 to C$45.00 in a research note on Monday, November 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of C$47.13.

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

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

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

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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.

Analyst Recommendations for IGM Financial (TSE:IGM)

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