Rhonda Goldberg Sells 7,435 Shares of IGM Financial (TSE:IGM) Stock

IGM Financial Inc. (TSE:IGM) insider Rhonda Goldberg sold 7,435 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of C$55.75, for a total value of C$414,501.25.

Rhonda Goldberg also recently made the following trade(s):

• On Tuesday, November 11th, Rhonda Goldberg sold 4,500 shares of IGM Financial stock. The stock was sold at an average price of C$56.55, for a total value of C$254,475.00.
• 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 value of C$419,121.00.
• On Wednesday, November 12th, Rhonda Goldberg sold 8,636 shares of IGM Financial stock. The shares were sold at an average price of C$57.00, for a total value of C$492,252.00.

IGM Financial Stock Performance

IGM stock opened at C$56.41 on Friday. IGM Financial Inc. has a twelve month low of C$38.89 and a twelve month high of C$57.54. The firm has a market cap of C$13.38 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 4.09 and a beta of 1.06. The business’s fifty day simple moving average is C$52.47 and its two-hundred day simple moving average is C$47.61. The company has a quick ratio of 0.31, a current ratio of 3.61 and a debt-to-equity ratio of 97.24.

IGM Financial (TSE:IGM) last issued its earnings results on Thursday, November 6th. The financial services provider reported C$1.26 earnings per share (EPS) 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%. Analysts predict that IGM Financial Inc. will post 4.006816 earnings per share for the current year.

IGM Financial Cuts Dividend

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

Analyst Upgrades and Downgrades

IGM has been the subject of several research analyst reports. TD Securities lifted their price target on shares of IGM Financial from C$57.00 to C$64.00 in a research note on Tuesday, November 4th. National Bankshares raised their price objective on IGM Financial from C$60.00 to C$68.00 in a report on Monday. Royal Bank Of Canada upped their target price on IGM Financial from C$55.00 to C$61.00 in a report on Monday. Scotiabank increased their price target on IGM Financial from C$64.00 to C$67.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group lifted their price objective 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. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus 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.