IGM Financial (OTCMKTS:IGIFF) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

IGM Financial Inc. (OTCMKTS:IGIFF) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $32.86 and traded as high as $35.24. IGM Financial shares last traded at $35.24, with a volume of 959 shares.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank Of Canada restated a “sector perform” rating on shares of IGM Financial in a research report on Friday, August 8th. BMO Capital Markets restated a “market perform” rating on shares of IGM Financial in a research report on Friday, August 8th. TD Securities restated a “buy” rating on shares of IGM Financial in a research report on Friday, August 8th. Finally, Scotiabank restated a “sector perform” rating on shares of IGM Financial in a research report on Thursday, August 7th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, IGM Financial has a consensus rating of “Hold”.

IGM Financial Stock Performance

The firm’s 50-day simple moving average is $32.86 and its 200-day simple moving average is $31.76.

IGM Financial Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 1st were given a $0.4039 dividend. The ex-dividend date was Monday, June 30th. This is a positive change from IGM Financial’s previous dividend of $0.39. This represents a dividend yield of 514.0%. IGM Financial’s dividend payout ratio is presently 67.85%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.