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 the firm’s stock in a transaction dated 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 transaction of C$419,121.00.
• On Wednesday, November 12th, Rhonda Goldberg sold 8,636 shares of IGM Financial stock. The stock was sold at an average price of C$57.00, for a total transaction of C$492,252.00.

IGM Financial Stock Down 1.6%

TSE IGM opened at C$56.41 on Friday. The company has a debt-to-equity ratio of 97.24, a current ratio of 3.61 and a quick ratio of 0.31. The company’s 50 day simple moving average is C$52.47 and its 200 day simple moving average is C$47.61. IGM Financial Inc. has a 12 month low of C$38.89 and a 12 month high of C$57.54. The company has a market capitalization of C$13.38 billion, a P/E ratio of 12.97, a PEG ratio of 4.09 and a beta of 1.06.

IGM Financial (TSE:IGM) last issued its earnings results 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 during the quarter. IGM Financial had a net margin of 27.93% and a return on equity of 12.76%. Equities research analysts expect that IGM Financial Inc. will post 4.006816 earnings per share for the current fiscal year.

IGM Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 31st were given a dividend of $0.562 per share. The ex-dividend date of this dividend was Friday, September 26th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.0%. IGM Financial’s payout ratio is 51.72%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IGM shares. National Bankshares increased their price target on IGM Financial from C$60.00 to C$68.00 in a research report on Monday. TD Securities upped their price objective on shares of IGM Financial from C$57.00 to C$64.00 in a research note on Tuesday, November 4th. Jefferies Financial Group raised their target price on shares of IGM Financial from C$50.00 to C$54.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. 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 report on Tuesday, October 28th. Finally, BMO Capital Markets upped their price target on shares of IGM Financial from C$54.00 to C$57.00 in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, IGM Financial currently has a consensus rating of “Hold” and an average target price of C$61.83.

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.