IGM Financial (TSE:IGM – Free Report) had its price objective boosted by Scotiabank from C$44.00 to C$45.00 in a report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.
IGM has been the subject of a number of other reports. Royal Bank of Canada increased their price target on IGM Financial from C$43.00 to C$44.00 and gave the company a sector perform rating in a research note on Friday, February 16th. TD Securities increased their price objective on shares of IGM Financial from C$41.00 to C$42.00 in a research report on Thursday, April 25th. Finally, National Bankshares lifted their target price on shares of IGM Financial from C$44.00 to C$46.00 and gave the stock an outperform rating in a research note on Monday, February 5th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, IGM Financial currently has a consensus rating of Moderate Buy and an average target price of C$43.17.
Read Our Latest Report on IGM Financial
IGM Financial Stock Up 6.2 %
IGM Financial (TSE:IGM – Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported C$0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of C$0.89 by C($0.05). IGM Financial had a return on equity of 14.46% and a net margin of 31.03%. The firm had revenue of C$768.80 million during the quarter, compared to analysts’ expectations of C$773.00 million. On average, sell-side analysts predict that IGM Financial will post 3.711039 EPS for the current fiscal year.
IGM Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th were issued a $0.563 dividend. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend was Wednesday, March 27th. IGM Financial’s dividend payout ratio is presently 57.99%.
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.
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