IGM Financial (TSE:IGM) Given New C$89.00 Price Target at Royal Bank Of Canada

IGM Financial (TSE:IGM) had its target price raised by Royal Bank Of Canada from C$80.00 to C$89.00 in a research report released on Friday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets raised their price objective on IGM Financial from C$72.00 to C$80.00 in a research note on Wednesday, July 15th. Scotiabank upped their target price on IGM Financial from C$84.00 to C$87.00 and gave the stock a “sector perform” rating in a research report on Thursday. TD increased their target price on IGM Financial from C$92.00 to C$94.00 and gave the stock a “buy” rating in a report on Thursday. National Bank Financial increased their target price on IGM Financial from C$85.00 to C$91.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Canadian Imperial Bank of Commerce lifted their price target on shares of IGM Financial from C$79.00 to C$85.00 in a research report on Friday, July 10th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$82.00.

IGM Financial Price Performance

IGM stock opened at C$87.16 on Friday. The company has a debt-to-equity ratio of 82.59, a current ratio of 1.28 and a quick ratio of 0.31. The company’s 50-day moving average is C$81.22 and its 200-day moving average is C$73.19. The stock has a market capitalization of C$20.26 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. IGM Financial has a 1 year low of C$44.69 and a 1 year high of C$87.99.

IGM Financial (TSE:IGM) last issued its earnings results on Wednesday, July 29th. The financial services provider reported C$1.41 EPS for the quarter. IGM Financial had a return on equity of 12.91% and a net margin of 29.82%.The business had revenue of C$1.07 million during the quarter. Equities research analysts expect that IGM Financial will post 4.006816 EPS for the current fiscal year.

IGM Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 31st were issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Monday, June 29th. IGM Financial’s payout ratio is currently 47.48%.

Insider Activity at IGM Financial

In other news, Director James Patrick O’sullivan sold 700 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of C$77.90, for a total value of C$54,530.00. Following the completion of the sale, the director directly owned 93,248 shares of the company’s stock, valued at C$7,264,019.20. This represents a 0.75% decrease in their ownership of the stock. Insiders sold 144,039 shares of company stock valued at $11,327,486 over the last three months. Corporate insiders own 66.58% of the company’s stock.

Key IGM Financial News

Here are the key news stories impacting IGM Financial this week:

• Positive Sentiment: IGM Financial reported C$263 million in second-quarter net earnings, providing a fundamental catalyst for the recent strength in the shares. IGM posts $263M in Q2 net earnings
• Positive Sentiment: TD raised its price target on IGM from C$92 to C$94 and maintained a “buy” rating, implying further potential upside based on the cited reference price. TD raises IGM price target
• Positive Sentiment: Royal Bank of Canada increased its target from C$80 to C$89 while retaining a “sector perform” rating, signaling improved valuation expectations despite a more cautious recommendation. Analyst ratings
• Positive Sentiment: Scotiabank lifted its target from C$84 to C$87 and kept a “sector perform” rating, modestly improving its valuation outlook. Analyst ratings
• Neutral Sentiment: Mackenzie Investments is reducing the number of investment teams as part of an artificial-intelligence initiative. The move could improve long-term efficiency and margins, but restructuring and execution risks may limit the immediate benefit. Mackenzie reduces number of investment teams as part of AI push
• Neutral Sentiment: IGM plans to sell its Winnipeg headquarters and move into leased space at Portage and Main. Proceeds and lower property-related costs could help, although the transaction also reflects a shift toward leasing rather than owning corporate real estate. IGM Financial to sell off Winnipeg headquarters

About IGM Financial

Mackenzie Investments (“Mackenzie”) is a Canadian investment management firm with approximately $244 billion (CAD) in assets under management as of December 31, 2025. Mackenzie seeks to create a more invested world by delivering strong investment performance and offering innovative portfolio solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, it is a global asset manager with offices across Canada as well as in Beijing, Boston, Dublin, Hong Kong and London.