IGM Financial (TSE:IGM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of IGM Financial Inc. (TSE:IGM) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$40.61 and traded as high as C$46.68. IGM Financial shares last traded at C$45.52, with a volume of 506,257 shares.

Wall Street Analyst Weigh In

Several analysts have issued reports on IGM shares. Jefferies Financial Group boosted their price target on IGM Financial from C$39.00 to C$45.00 and gave the company a “hold” rating in a report on Friday, November 1st. CIBC boosted their target price on IGM Financial from C$47.00 to C$50.00 in a research note on Friday, November 8th. BMO Capital Markets upped their price target on IGM Financial from C$43.00 to C$47.00 in a research report on Monday, November 11th. Scotiabank lifted their price objective on shares of IGM Financial from C$53.00 to C$56.00 in a report on Friday, November 8th. Finally, TD Securities increased their target price on shares of IGM Financial from C$46.00 to C$50.00 in a report on Monday, November 11th. 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, IGM Financial has a consensus rating of “Moderate Buy” and an average target price of C$49.29.

IGM Financial Price Performance

The stock has a market cap of C$10.95 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 4.09 and a beta of 1.53. The company has a debt-to-equity ratio of 35.99, a quick ratio of 0.31 and a current ratio of 2.12. The company has a 50-day simple moving average of C$44.76 and a two-hundred day simple moving average of C$40.68.

IGM Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.563 per share. This represents a $2.25 annualized dividend and a yield of 4.87%. The ex-dividend date is Tuesday, December 31st. IGM Financial’s dividend payout ratio (DPR) is currently 63.38%.

IGM Financial Company Profile

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.