IGM Financial (OTCMKTS:IGIFF) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Shares of IGM Financial Inc. (OTCMKTS:IGIFF) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $38.68 and traded as high as $41.6525. IGM Financial shares last traded at $41.65, with a volume of 28,481 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Scotiabank reissued a “sector perform” rating on shares of IGM Financial in a report on Tuesday, October 28th. Royal Bank Of Canada reissued a “sector perform” rating on shares of IGM Financial in a research note on Monday, November 10th. BMO Capital Markets restated a “market perform” rating on shares of IGM Financial in a research report on Monday, November 10th. TD Securities reaffirmed a “buy” rating on shares of IGM Financial in a report on Friday, August 8th. Finally, National Bankshares reiterated an “outperform” rating on shares of IGM Financial in a research report on Monday, October 27th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

IGM Financial Price Performance

The stock’s 50-day moving average is $38.68 and its 200-day moving average is $35.33.

IGM Financial Increases Dividend

The company also recently announced a dividend, which was paid on Friday, October 31st. Investors of record on Monday, September 29th were issued a dividend of $0.4087 per share. The ex-dividend date of this dividend was Friday, September 26th. This is a positive change from IGM Financial’s previous dividend of $0.40. This represents a yield of 441.0%. IGM Financial’s dividend payout ratio is presently 67.85%.

IGM Financial Company Profile

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.