IGM Financial (TSE:IGM) Stock Price Expected to Rise, TD Securities Analyst Says

IGM Financial (TSE:IGM) had its price target raised by equities researchers at TD Securities from C$73.00 to C$76.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD Securities’ price objective would suggest a potential upside of 13.25% from the company’s current price.

IGM has been the subject of several other reports. BMO Capital Markets lifted their price objective on shares of IGM Financial from C$57.00 to C$68.00 in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce raised their target price on shares of IGM Financial from C$61.00 to C$68.00 in a report on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on shares of IGM Financial from C$51.00 to C$65.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. National Bank Financial increased their price target on IGM Financial from C$68.00 to C$82.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, Jefferies Financial Group lifted their price objective on IGM Financial from C$50.00 to C$54.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$68.57.

IGM Financial Stock Up 0.3%

IGM Financial stock opened at C$67.11 on Tuesday. The business’s 50-day simple moving average is C$64.45 and its two-hundred day simple moving average is C$56.57. The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61. The company has a market cap of C$15.72 billion, a PE ratio of 14.46, a PEG ratio of 4.09 and a beta of 1.10. IGM Financial has a fifty-two week low of C$38.89 and a fifty-two week high of C$68.55.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported C$1.27 earnings per share (EPS) for the quarter. The firm had revenue of C$1.05 billion during the quarter. IGM Financial had a return on equity of 12.76% and a net margin of 27.93%. Equities analysts anticipate that IGM Financial will post 4.006816 EPS for the current year.

Insiders Place Their Bets

In other IGM Financial news, Director Esther Findlay sold 3,280 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of C$57.59, for a total transaction of C$188,895.20. Following the transaction, the director owned 6,996 shares in the company, valued at approximately C$402,899.64. This represents a 31.92% decrease in their ownership of the stock. Over the last ninety days, insiders sold 6,980 shares of company stock valued at $401,782. Corporate insiders own 66.58% of the company’s stock.

IGM Financial Company Profile

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which includes Great-West Life, London Life, Canada Life, and Putnam Investments. IGM has two main operating divisionsasset management (operated through Mackenzie Investments) and wealth management (via its Investors Group Wealth Management and Investment Planning Counsel subsidiaries)that provide investment management products and services. IGM Financial had CAD 225.6 billion in assets under management, or AUM, and CAD 30.1 billion in assets under advisement at the end of May 2022.