IGM Financial Inc. (IGM) Given Average Rating of “Buy” by Analysts
Shares of IGM Financial Inc. (TSE:IGM) have been given an average recommendation of “Buy” by the seven research firms that are currently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a buy rating. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is C$47.14.
IGM has been the topic of several recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a C$47.00 price target on shares of IGM Financial in a report on Monday, September 18th. Desjardins raised their price target on IGM Financial from C$48.00 to C$50.00 in a report on Tuesday, October 31st. CIBC cut their price target on IGM Financial from C$48.00 to C$45.00 in a report on Monday, November 6th. Scotiabank reissued an “outperform” rating and issued a C$50.00 price target on shares of IGM Financial in a report on Tuesday, December 12th. Finally, Barclays lowered their target price on IGM Financial from C$44.00 to C$43.00 in a research report on Monday, November 6th.
In other news, Director Jean-Claude Bachand purchased 1,000 shares of the stock in a transaction dated Tuesday, December 5th. The shares were bought at an average cost of C$44.35 per share, for a total transaction of C$44,350.00.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, December 28th. IGM Financial’s dividend payout ratio (DPR) is presently 69.02%.
IGM Financial Company Profile
IGM Financial Inc is a Canada-based financial services company. The Company’s principal businesses are Investors Group Inc and Mackenzie Financial Corporation, which operate within the advice segment of the financial services market. It operates in three segments: Investors Group, Mackenzie Investments, and Corporate and Other.
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