BMO Capital Markets Boosts IGM Financial (TSE:IGM) Price Target to C$57.00

IGM Financial (TSE:IGM) had its price target boosted by BMO Capital Markets from C$54.00 to C$57.00 in a research report issued on Monday,BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 2.22% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. National Bankshares upped their price objective on shares of IGM Financial from C$60.00 to C$68.00 in a research note on Monday. Royal Bank Of Canada upped their price target on IGM Financial from C$55.00 to C$61.00 in a research report on Monday. Jefferies Financial Group lifted their price objective on 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 boosted their price objective on IGM Financial from C$57.00 to C$64.00 in a research note on Tuesday, November 4th. Finally, Scotiabank raised their target price on IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 28th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, IGM Financial has an average rating of “Hold” and a consensus price target of C$61.83.

IGM Financial Price Performance

Shares of IGM Financial stock traded up C$2.05 during trading hours on Monday, reaching C$55.76. 354,419 shares of the company’s stock were exchanged, compared to its average volume of 302,070. The business has a fifty day moving average of C$51.91 and a two-hundred day moving average of C$47.30. The company has a market capitalization of C$13.15 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 4.09 and a beta of 1.06. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. IGM Financial has a 1 year low of C$38.89 and a 1 year high of C$56.01.

Insider Buying and Selling

In other news, Director Brent Jason Allen sold 1,451 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of C$48.56, for a total value of C$70,460.56. Insiders sold a total of 2,840 shares of company stock valued at $137,909 in the last quarter. 66.58% of the stock is 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.