Rhonda Goldberg Sells 4,500 Shares of IGM Financial (TSE:IGM) Stock

IGM Financial Inc. (TSE:IGM) insider Rhonda Goldberg sold 4,500 shares of IGM Financial stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of C$56.55, for a total value of C$254,475.00.

Rhonda Goldberg also recently made the following trade(s):

• On Monday, November 10th, Rhonda Goldberg sold 7,435 shares of IGM Financial stock. The shares were sold at an average price of C$55.75, for a total transaction of C$414,501.25.
• On Wednesday, November 12th, Rhonda Goldberg sold 7,353 shares of IGM Financial stock. The shares were sold at an average price of C$57.00, for a total value of C$419,121.00.
• On Wednesday, November 12th, Rhonda Goldberg sold 8,636 shares of IGM Financial stock. The shares were sold at an average price of C$57.00, for a total value of C$492,252.00.

IGM Financial Stock Up 1.6%

IGM traded up C$0.90 on Wednesday, hitting C$57.16. The company had a trading volume of 209,962 shares, compared to its average volume of 303,344. The stock has a market capitalization of C$13.50 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 4.09 and a beta of 1.06. The company has a debt-to-equity ratio of 97.24, a quick ratio of 0.31 and a current ratio of 3.61. The stock has a fifty day moving average price of C$52.19 and a 200-day moving average price of C$47.48. IGM Financial Inc. has a 12-month low of C$38.89 and a 12-month high of C$57.31.

IGM Financial (TSE:IGM) last announced its quarterly earnings data on Thursday, November 6th. The financial services provider reported C$1.26 earnings per share for the quarter. The firm had revenue of C$971.88 million for the quarter. IGM Financial had a net margin of 27.93% and a return on equity of 12.76%. Analysts predict that IGM Financial Inc. will post 4.006816 EPS for the current fiscal year.

IGM Financial Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 31st were given a $0.562 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 3.9%. IGM Financial’s dividend payout ratio is 54.88%.

Analyst Ratings Changes

Several research analysts recently weighed in on IGM shares. Royal Bank Of Canada increased their price objective on IGM Financial from C$55.00 to C$61.00 in a research report on Monday. TD Securities increased their price target on IGM Financial from C$57.00 to C$64.00 in a report on Tuesday, November 4th. Jefferies Financial Group raised their price objective on IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. BMO Capital Markets upped their target price on shares of IGM Financial from C$54.00 to C$57.00 in a research report on Monday. Finally, Scotiabank boosted their price target on shares of IGM Financial from C$64.00 to C$67.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 28th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$61.83.

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.