IGM Financial (TSE:IGM) Price Target Raised to C$68.00 at National Bankshares

IGM Financial (TSE:IGM) had its target price raised by equities researchers at National Bankshares from C$60.00 to C$68.00 in a research note issued to investors on Monday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 21.95% from the company’s previous close.

A number of other brokerages also recently issued reports on IGM. TD Securities raised their price objective on IGM Financial from C$57.00 to C$64.00 in a research report on Tuesday, November 4th. Jefferies Financial Group upped their target price 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. Scotiabank raised their price target on shares of IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 28th. BMO Capital Markets boosted their price target on shares of IGM Financial from C$47.00 to C$49.00 and gave the stock a “market perform” rating in a research report on Friday, August 8th. Finally, Royal Bank Of Canada increased their price objective on shares of IGM Financial from C$55.00 to C$61.00 in a research report on Monday. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$61.83.

IGM Financial Trading Up 3.8%

TSE IGM traded up C$2.05 on Monday, reaching C$55.76. The company had a trading volume of 354,419 shares, compared to its average volume of 302,070. The firm has a market cap of C$13.15 billion, a price-to-earnings ratio of 13.60, 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 current ratio of 3.61 and a quick ratio of 0.31. IGM Financial has a fifty-two week low of C$38.89 and a fifty-two week high of C$56.01. The business has a 50 day moving average of C$51.91 and a two-hundred day moving average of C$47.30.

Insider Activity at IGM Financial

In other news, Director Brent Jason Allen sold 1,451 shares of IGM Financial stock in a transaction on Monday, August 18th. The shares were sold at an average price of C$48.56, for a total value of C$70,460.56. Over the last three months, insiders have sold 2,840 shares of company stock worth $137,909. Company insiders own 66.58% of the company’s stock.

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.