IGM Financial (TSE:IGM) Share Price Passes Above Two Hundred Day Moving Average of $36.34

IGM Financial Inc. (TSE:IGM) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$36.34 and traded as high as C$37.72. IGM Financial shares last traded at C$36.49, with a volume of 234,340 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on IGM shares. TD Securities upped their target price on IGM Financial from C$42.00 to C$43.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. CIBC upped their price objective on shares of IGM Financial from C$42.00 to C$45.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their price objective on shares of IGM Financial from C$46.00 to C$47.00 in a report on Thursday. Scotiabank upped their target price on shares of IGM Financial from C$45.00 to C$46.00 in a report on Wednesday, July 24th. Finally, BMO Capital Markets dropped their price target on shares of IGM Financial from C$40.00 to C$39.00 in a research report on Friday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$43.71.

IGM Financial Trading Up 1.6 %

The stock has a market cap of C$8.72 billion, a P/E ratio of 11.37, a PEG ratio of 4.09 and a beta of 1.55. The firm’s fifty day moving average price is C$37.78 and its two-hundred day moving average price is C$36.34. The company has a debt-to-equity ratio of 35.99, a current ratio of 20.63 and a quick ratio of 0.31.

IGM Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 6.13%. The ex-dividend date is Monday, September 30th. IGM Financial’s dividend payout ratio (DPR) is currently 69.66%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.