IGM Financial Shares Rise Above 200-Day Moving Average – Should Investors Consider Selling?

IGM Financial Inc. (TSE:IGM) has crossed above its 200-day moving average, a significant indicator for traders, during trading on Tuesday. The stock's 200-day moving average stands at C$41.15, while it reached a high of C$46.21 during the session. As of the last available price, IGM Financial shares were trading at C$45.91, with a trading volume of 194,031 shares.

Recent Analyst Price Targets

In recent developments, multiple brokerages have updated their price targets for IGM Financial. Scotiabank raised its price target from C$53.00 to C$56.00 in a research report published on November 8. Similarly, TD Securities increased their target from C$46.00 to C$50.00 on November 11. Jefferies Financial Group also adjusted their price objective from C$39.00 to C$45.00, attributing a "hold" rating on November 1. National Bankshares also boosted their target from C$47.00 to C$50.00, granting the stock an "outperform" rating on October 30. CIBC followed suit, raising its price target from C$47.00 to C$50.00 in a report issued on November 8. Today, three research analysts have issued hold ratings, while three others suggest buying the stock. Currently, MarketBeat.com reports a consensus rating of "Moderate Buy" for IGM Financial, with an average price target of C$49.29.

Latest Trading Information

As of the latest data, IGM Financial's stock has a market capitalization of C$10.86 billion. The company sports a P/E ratio of 12.93, with a PEG ratio of 4.09, and a beta value of 1.53. The stock is also showing a current ratio of 2.12 and a quick ratio of 0.31, highlighting its financial health metrics.

Dividend Declaration

In addition to its performance in the stock market, IGM Financial has also announced a quarterly dividend. This dividend is set to be paid on January 31 to shareholders on record as of December 31. Each shareholder will receive a dividend of $0.563, translating to an annualized dividend of $2.25, which reflects a yield of 4.91%. The ex-dividend date is also December 31, with the company having a dividend payout ratio (DPR) of 63.38%.

Company Overview

IGM Financial Inc. operates as a wealth and asset management firm in Canada, functioning through two main segments: Wealth Management and Asset Management. The Wealth Management segment focuses on providing investment products alongside financial planning and related services, including mutual fund management and discretionary portfolio management.

Conclusion

Investors should evaluate whether to hold or sell their shares based on recent analytical insights and the company's dividend announcements. Continued attention to market trends and analyst updates will be crucial in making informed investment decisions.

IGM, Stocks, Dividend