Royal Bank Of Canada Raises IGM Financial (TSE:IGM) Price Target to C$61.00

IGM Financial (TSE:IGM) had its target price lifted by stock analysts at Royal Bank Of Canada from C$55.00 to C$61.00 in a report issued on Monday,BayStreet.CA reports. Royal Bank Of Canada’s target price would indicate a potential upside of 9.40% from the company’s previous close.

Several other research firms have also weighed in on IGM. TD Securities lifted their target price on shares of IGM Financial from C$57.00 to C$64.00 in a report on Tuesday, November 4th. Scotiabank raised their target price on IGM Financial from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 28th. National Bankshares upped their price target on 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 raised their price objective on IGM Financial from C$50.00 to C$54.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Finally, BMO Capital Markets upped their target price on IGM Financial from C$47.00 to C$49.00 and gave the stock a “market perform” rating in a research note on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$61.83.

IGM Financial Stock Performance

Shares of TSE IGM traded up C$2.05 during trading on Monday, reaching C$55.76. 354,419 shares of the company traded hands, compared to its average volume of 302,070. The stock has a market cap of C$13.15 billion, a P/E ratio of 13.60, a PEG ratio of 4.09 and a beta of 1.06. The firm’s fifty day simple moving average is C$51.91 and its 200 day simple moving average is C$47.30. The company has a current ratio of 3.61, a quick ratio of 0.31 and a debt-to-equity ratio of 97.24. IGM Financial has a 12-month low of C$38.89 and a 12-month high of C$56.01.

Insider Activity at IGM Financial

In related news, Director Brent Jason Allen sold 1,451 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of C$48.56, for a total transaction of C$70,460.56. Insiders sold 2,840 shares of company stock worth $137,909 in the last three months. 66.58% of the stock is currently owned by insiders.

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.