IGM Financial Inc. (TSE:IGM) Announces Quarterly Dividend of $0.56

IGM Financial Inc. (TSE:IGM) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Investors of record on Tuesday, December 31st will be paid a dividend of 0.563 per share by the financial services provider on Friday, January 31st. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date is Tuesday, December 31st.

IGM Financial Trading Up 0.7 %

Shares of IGM stock opened at C$46.76 on Friday. The stock has a market capitalization of C$11.07 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 4.09 and a beta of 1.53. The company’s fifty day simple moving average is C$45.32 and its two-hundred day simple moving average is C$41.09. IGM Financial has a 1 year low of C$32.95 and a 1 year high of C$47.96. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on IGM shares. CIBC boosted their price objective on IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. TD Securities increased their price target on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. National Bankshares boosted their price objective on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their target price on shares of IGM Financial from C$43.00 to C$47.00 in a research note on Monday, November 11th. Finally, Scotiabank boosted their price target on shares of IGM Financial from C$53.00 to C$56.00 in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$49.29.

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.