IGM Financial (TSE:IGM) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

IGM Financial Inc. (TSE:IGM)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$41.57 and traded as high as C$45.51. IGM Financial shares last traded at C$45.43, with a volume of 214,018 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently commented on IGM shares. CIBC increased their price target on shares of IGM Financial from C$47.00 to C$50.00 in a report on Friday, November 8th. National Bankshares raised their price objective on IGM Financial from C$47.00 to C$50.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. TD Securities boosted their price target on IGM Financial from C$46.00 to C$50.00 in a research note on Monday, November 11th. Jefferies Financial Group raised their target price on shares of IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, BMO Capital Markets increased 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, IGM Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of C$49.29.

IGM Financial Price Performance

The business’s fifty day moving average price is C$45.90 and its 200 day moving average price is C$41.57. The stock has a market cap of C$10.75 billion, a P/E ratio of 12.80, a PEG ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31.

IGM Financial Dividend Announcement

The business also recently announced 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 dividend yield of 4.96%. IGM Financial’s payout ratio is presently 63.38%.

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.