TD Securities Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM) had its target price upped by research analysts at TD Securities from C$57.00 to C$64.00 in a research note issued on Tuesday,BayStreet.CA reports. TD Securities’ target price would suggest a potential upside of 18.34% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Scotiabank upped their price objective on shares of IGM Financial from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a report on Tuesday, October 28th. BMO Capital Markets boosted their target price on shares of IGM Financial from C$47.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Friday, August 8th. National Bankshares raised their price target on shares of IGM Financial from C$58.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Jefferies Financial Group lifted their price objective on shares of IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada upped their target price on IGM Financial from C$52.00 to C$55.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$57.00.

IGM Financial Stock Down 1.2%

Shares of IGM Financial stock traded down C$0.63 during trading on Tuesday, reaching C$54.08. The company’s stock had a trading volume of 93,371 shares, compared to its average volume of 300,774. IGM Financial has a 1-year low of C$38.89 and a 1-year high of C$56.01. The company has a 50-day simple moving average of C$51.52 and a two-hundred day simple moving average of C$46.96. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24. The company has a market cap of C$12.75 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 4.09 and a beta of 1.07.

Insider Buying and Selling at IGM Financial

In other news, Director Brent Jason Allen sold 1,451 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of C$48.56, for a total value of C$70,460.56. Insiders have 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 corporate insiders.

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.