IGM Financial (TSE:IGM) Hits New 52-Week High – What’s Next?

IGM Financial Inc. (TSE:IGM)’s share price hit a new 52-week high on Monday . The company traded as high as C$47.83 and last traded at C$47.76, with a volume of 35901 shares. The stock had previously closed at C$47.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IGM shares. National Bankshares lifted their price objective on IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on IGM Financial from C$46.00 to C$47.00 in a report on Thursday, August 8th. CIBC increased their price objective on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. TD Securities raised their target price on shares of IGM Financial from C$46.00 to C$50.00 in a research report on Monday, November 11th. Finally, BMO Capital Markets upped their price target on shares of IGM Financial from C$43.00 to C$47.00 in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Trading Up 0.4 %

The business’s 50-day simple moving average is C$42.65 and its two-hundred day simple moving average is C$39.52. The company has a current ratio of 2.12, a quick ratio of 0.31 and a debt-to-equity ratio of 35.99. The company has a market capitalization of C$11.21 billion, a PE ratio of 13.27, a PEG ratio of 4.09 and a beta of 1.53.

IGM Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.563 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.25 dividend on an annualized basis and a yield of 4.75%. IGM Financial’s dividend payout ratio (DPR) is presently 63.38%.

About IGM Financial

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.