IGM Financial Inc. (IGM) Given Average Recommendation of “Hold” by Analysts
Shares of IGM Financial Inc. (TSE:IGM) have been assigned a consensus recommendation of “Buy” from the eight research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is C$46.19.
A number of equities analysts have issued reports on IGM shares. TD Securities upgraded IGM Financial from a “hold” rating to a “buy” rating and increased their price objective for the stock from C$48.00 to C$52.00 in a report on Monday, November 6th. Barclays decreased their price objective on IGM Financial from C$44.00 to C$43.00 in a report on Monday, November 6th. CIBC decreased their price objective on IGM Financial from C$48.00 to C$45.00 in a report on Monday, November 6th. Scotiabank increased their price objective on IGM Financial from C$47.00 to C$49.00 and gave the stock a “sector perform” rating in a report on Monday, November 6th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a C$47.00 price objective on shares of IGM Financial in a report on Monday, September 18th.
In related news, Director Jean-Claude Bachand bought 1,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were purchased at an average cost of C$44.35 per share, with a total value of C$44,350.00.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be paid a $0.563 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.03%. IGM Financial’s dividend payout ratio is currently 69.02%.
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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.
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