IGM Financial Inc. (TSE:IGM – Get Free Report) hit a new 52-week low on Tuesday after Royal Bank of Canada lowered their price target on the stock from C$49.00 to C$42.00. Royal Bank of Canada currently has a sector perform rating on the stock. IGM Financial traded as low as C$31.17 and last traded at C$31.26, with a volume of 65361 shares trading hands. The stock had previously closed at C$31.64.
A number of other equities analysts also recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of IGM Financial from C$44.00 to C$43.00 and set a “market perform” rating for the company in a research note on Friday, August 4th. National Bankshares reduced their price target on shares of IGM Financial from C$47.00 to C$44.00 and set an “outperform” rating on the stock in a report on Tuesday. TD Securities lifted their price target on shares of IGM Financial from C$36.00 to C$38.00 and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Scotiabank reduced their target price on shares of IGM Financial from C$47.00 to C$45.00 and set a “sector perform” rating on the stock in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of C$43.25.
Read Our Latest Analysis on IGM Financial
IGM Financial Price Performance
IGM Financial (TSE:IGM – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported C$0.86 earnings per share for the quarter, beating the consensus estimate of C$0.85 by C$0.01. The firm had revenue of C$771.65 million during the quarter, compared to analysts’ expectations of C$765.00 million. IGM Financial had a return on equity of 15.76% and a net margin of 24.35%. On average, equities analysts predict that IGM Financial Inc. will post 3.8118343 EPS for the current fiscal year.
IGM Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 31st will be paid a $0.563 dividend. This represents a $2.25 annualized dividend and a dividend yield of 7.22%. The ex-dividend date of this dividend is Thursday, September 28th. IGM Financial’s dividend payout ratio (DPR) is presently 55.69%.
IGM Financial Company Profile
IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management, Asset Management, and Strategic Investments and Other segments. The company offers financial advisory services; and IG Living Plan that provides financial planning services, such as investment vehicles, insurance products, mortgage and banking solutions, and charitable giving program.
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