IGM Financial (TSE:IGM) Insider Sells C$492,252.00 in Stock

IGM Financial Inc. (TSE:IGM) insider Rhonda Goldberg sold 8,636 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of C$57.00, for a total value of C$492,252.00.

Rhonda Goldberg also recently made the following trade(s):

• On Monday, November 10th, Rhonda Goldberg sold 7,435 shares of IGM Financial stock. The stock was sold at an average price of C$55.75, for a total value of C$414,501.25.
• On Tuesday, November 11th, Rhonda Goldberg sold 4,500 shares of IGM Financial stock. The shares were sold at an average price of C$56.55, for a total value of C$254,475.00.
• On Wednesday, November 12th, Rhonda Goldberg sold 7,353 shares of IGM Financial stock. The shares were sold at an average price of C$57.00, for a total value of C$419,121.00.

IGM Financial Stock Performance

Shares of TSE IGM traded up C$0.90 during mid-day trading on Wednesday, reaching C$57.16. 209,962 shares of the company’s stock were exchanged, compared to its average volume of 303,344. The firm has a 50-day moving average price of C$52.19 and a two-hundred day moving average price of C$47.48. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The firm has a market capitalization of C$13.50 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 4.09 and a beta of 1.06. IGM Financial Inc. has a 52 week low of C$38.89 and a 52 week high of C$57.31.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, November 6th. The financial services provider reported C$1.26 EPS for the quarter. IGM Financial had a net margin of 27.93% and a return on equity of 12.76%. The business had revenue of C$971.88 million for the quarter. Analysts predict that IGM Financial Inc. will post 4.006816 EPS for the current year.

IGM Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 31st were issued a dividend of $0.562 per share. This represents a $2.25 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Friday, September 26th. IGM Financial’s dividend payout ratio is 54.88%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on IGM shares. Scotiabank boosted their price target on shares of 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. Royal Bank Of Canada raised their price objective on IGM Financial from C$55.00 to C$61.00 in a report on Monday. Jefferies Financial Group increased 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. National Bankshares increased their target price on IGM Financial from C$60.00 to C$68.00 in a report on Monday. Finally, BMO Capital Markets lifted their price target on IGM Financial from C$54.00 to C$57.00 in a research note on Monday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, IGM Financial currently has an average rating of “Hold” and an average price target of C$61.83.

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.