IGM Financial (TSE:IGM) Director Esther Findlay Sells 3,280 Shares of Stock

IGM Financial Inc. (TSE:IGM) Director Esther Findlay sold 3,280 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of C$57.59, for a total value of C$188,895.20. Following the transaction, the director directly owned 6,996 shares of the company’s stock, valued at C$402,899.64. This represents a 31.92% decrease in their position.

Esther Findlay also recently made the following trade(s):

• On Wednesday, November 26th, Esther Findlay sold 400 shares of IGM Financial stock. The stock was sold at an average price of C$57.62, for a total transaction of C$23,048.00.
• On Wednesday, November 26th, Esther Findlay sold 800 shares of IGM Financial stock. The shares were sold at an average price of C$57.60, for a total transaction of C$46,080.00.
• On Wednesday, November 26th, Esther Findlay sold 900 shares of IGM Financial stock. The stock was sold at an average price of C$57.51, for a total transaction of C$51,759.00.
• On Wednesday, November 26th, Esther Findlay sold 1,600 shares of IGM Financial stock. The stock was sold at an average price of C$57.50, for a total transaction of C$92,000.00.

IGM Financial Stock Down 1.4%

Shares of TSE IGM traded down C$0.85 on Friday, reaching C$61.75. 964,827 shares of the company’s stock traded hands, compared to its average volume of 314,063. The business’s 50 day simple moving average is C$56.33 and its two-hundred day simple moving average is C$50.19. IGM Financial Inc. has a 12 month low of C$38.89 and a 12 month high of C$63.07. The company has a market cap of C$14.55 billion, a price-to-earnings ratio of 14.20, 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 (TSE:IGM) last issued its quarterly earnings results on Thursday, November 6th. The financial services provider reported C$1.27 EPS for the quarter. IGM Financial had a return on equity of 12.76% and a net margin of 27.93%.The firm had revenue of C$971.88 million for the quarter. As a group, equities research analysts forecast that IGM Financial Inc. will post 4.006816 EPS for the current fiscal year.

IGM Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 30th will be issued a dividend of $0.5625 per share. The ex-dividend date is Tuesday, December 30th. This is a boost from IGM Financial’s previous quarterly dividend of $0.56. This represents a $2.25 annualized dividend and a dividend yield of 3.6%. IGM Financial’s dividend payout ratio is 51.72%.

Wall Street Analyst Weigh In

IGM has been the topic of a number of analyst reports. National Bankshares upped their price target on shares of IGM Financial from C$60.00 to C$68.00 in a research note on Monday, November 10th. Royal Bank Of Canada upped their target price on shares of IGM Financial from C$55.00 to C$61.00 in a research note on Monday, November 10th. Jefferies Financial Group raised their price target on shares of IGM Financial from C$50.00 to C$54.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Scotiabank boosted their price objective on shares of IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. Finally, TD Securities increased their target price on IGM Financial from C$57.00 to C$64.00 in a research note on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of C$61.71.

About IGM Financial

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. IGM Financial had CAD 225.6 billion in assets under management, or AUM, and CAD 30.1 billion in assets under advisement at the end of May 2022.