RBC Capital Maintains Their Hold Rating on IGM Financial (IGM)

By Ryan Adsit

Today, an analyst has provided a rating update for IGM Financial (IGMResearch Report). Analyst Geoffrey Kwan from RBC Capital rated IGM Financial (IGMResearch Report) a Hold, setting a C$40 price target.

According to TipRanks.com, Kwan is a 3-star analyst with an average return of 2.3% and a 43.6% success rate. Kwan covers the Financial sector, focusing on stocks such as Element Financial, CI Financial Corp, and IGM Financial.

The word on The Street in general, suggests a Hold analyst consensus rating for IGM Financial with a C$37.93 average price target, implying a 5.7% upside from current levels. In a report issued on April 23, Desjardins also reiterated a Hold rating on the stock with a C$38 price target.

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Based on IGM Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$182 million. In comparison, last year the company had a net profit of C$188 million.

IGM Financial, Inc. operates as a financial services company, which engages in the management and distribution of mutual funds and other managed asset products. It operates through the following segments: Investors Group, Mackenzie Investments, and Corporate & Other.

The company’s shares closed on Monday at C$35.90.