IGM Financial (TSE:IGM) Stock Price Expected to Rise, National Bankshares Analyst Says

IGM Financial (TSE:IGM) had its price objective upped by investment analysts at National Bankshares from C$68.00 to C$82.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. National Bankshares’ target price suggests a potential upside of 23.36% from the company’s previous close.

Several other research firms have also commented on IGM. Jefferies Financial Group boosted their price objective on shares of IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. TD Securities lifted their target price on shares of IGM Financial from C$57.00 to C$64.00 in a research report on Tuesday, November 4th. Scotiabank upped their price target on shares of IGM Financial from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a report on Tuesday, October 28th. BMO Capital Markets increased their price target on shares of IGM Financial from C$57.00 to C$68.00 in a research report on Monday, January 26th. Finally, CIBC raised their price objective on shares of IGM Financial from C$61.00 to C$68.00 in a research note on Wednesday, January 21st. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, IGM Financial currently has a consensus rating of “Hold” and a consensus price target of C$68.14.

IGM Financial Trading Down 0.8%

Shares of IGM Financial stock opened at C$66.47 on Wednesday. The company has a 50-day moving average of C$63.07 and a two-hundred day moving average of C$55.25. IGM Financial has a 12-month low of C$38.89 and a 12-month high of C$68.55. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. The stock has a market cap of C$15.67 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 4.09 and a beta of 1.10.

IGM Financial (TSE:IGM) last released its quarterly earnings results on Thursday, November 6th. The financial services provider reported C$1.27 earnings per share for the quarter. The business had revenue of C$971.88 million for the quarter. IGM Financial had a return on equity of 12.76% and a net margin of 27.93%. On average, research analysts anticipate that IGM Financial will post 4.006816 EPS for the current fiscal year.

Insider Buying and Selling at IGM Financial

In other IGM Financial news, Director Esther Findlay sold 3,280 shares of the stock in a transaction 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 of the company’s stock, valued at C$402,899.64. This represents a 31.92% decrease in their position. Also, insider Rhonda Goldberg sold 8,636 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of C$57.00, for a total value of C$492,252.00. Insiders sold a total of 34,904 shares of company stock valued at $1,982,131 over the last quarter. 66.58% of the stock is currently owned by insiders.

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.