IGM Financial Inc. (IGM) Given Consensus Recommendation of “Buy” by Brokerages

IGM Financial Inc. (TSE:IGM) has been given a consensus rating of “Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$47.14.

IGM has been the subject of several research analyst reports. BMO Capital Markets restated an “outperform” rating and set a C$47.00 price target on shares of IGM Financial in a research note on Monday, September 18th. Barclays upped their price target on IGM Financial from C$41.00 to C$44.00 in a research note on Monday, October 30th. Desjardins upped their price target on IGM Financial from C$48.00 to C$50.00 in a research note on Tuesday, October 31st. TD Securities upgraded IGM Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from C$48.00 to C$52.00 in a research note on Monday, November 6th. Finally, Scotiabank increased their target price on IGM Financial from C$47.00 to C$49.00 and gave the company a “sector perform” rating in a research note on Monday, November 6th.

Shares of IGM Financial (TSE IGM) opened at C$44.07 on Tuesday. The company has a market capitalization of $10,610.00, a PE ratio of 13.52 and a beta of 0.99. IGM Financial has a 12 month low of C$38.56 and a 12 month high of C$45.82.

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 5.11%. IGM Financial’s dividend payout ratio (DPR) is currently 69.02%.

In related news, Director Jean-Claude Bachand bought 1,000 shares of the stock in a transaction dated Tuesday, December 5th. The stock was acquired at an average price 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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