Jefferies Financial Group Issues Positive Forecast for IGM Financial (TSE:IGM) Stock Price

IGM Financial (TSE:IGM) had its target price upped by Jefferies Financial Group from C$39.00 to C$45.00 in a research report sent to investors on Friday morning, BayStreet.CA reports. The firm currently has a hold rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on IGM. BMO Capital Markets cut their price objective on shares of IGM Financial from C$40.00 to C$39.00 in a report on Friday, August 9th. Scotiabank increased their target price on shares of IGM Financial from C$45.00 to C$46.00 in a research report on Wednesday, July 24th. National Bankshares increased their target price on shares of IGM Financial from C$47.00 to C$50.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Royal Bank of Canada increased their target price on shares of IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$45.00.

IGM Financial Stock Up 1.0 %

Shares of TSE:IGM traded up C$0.42 during trading hours on Friday, reaching C$42.25. The stock had a trading volume of 233,559 shares, compared to its average volume of 241,538. The stock has a market capitalization of C$10.00 billion, a price-to-earnings ratio of 11.90, a P/E/G ratio of 4.09 and a beta of 1.53. The firm’s 50 day moving average is C$40.48 and its 200-day moving average is C$38.26. IGM Financial has a 1 year low of C$31.89 and a 1 year high of C$43.07. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12.

IGM Financial (TSE:IGM) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). IGM Financial had a return on equity of 12.80% and a net margin of 29.47%. The business had revenue of C$816.31 million for the quarter, compared to analysts’ expectations of C$826.00 million. Research analysts predict that IGM Financial will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 31st were given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 5.33%. The ex-dividend date was Friday, September 27th. IGM Financial’s payout ratio is currently 63.38%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.