Scotiabank Reaffirms Their Hold Rating on IGM Financial

By Austin Angelo

IGM Financial (TSX: IGM), the Financial sector company, has received a rating update from a Wall Street analyst yesterday. Analyst Phil Hardie from Scotiabank reiterated a Hold rating, with a C$41 price target.

Hardie has an average return of 6.4% when recommending IGM Financial.

According to TipRanks.com, Hardie is ranked #1318 out of 4571 analysts.

IGM Financial has an analyst consensus of Moderate Buy, with a price target consensus of C$43.75.

The company has a one year high of C$42.25 and a one year low of C$34.58. Currently, IGM Financial has an average volume of 261.7K.

IGM Financial, Inc. engages in the management and distribution of mutual funds and other managed asset products. It operates through the following segments: Investors Group, Mackenzie, and Corporate and Other. The Investors Group segment provides financial advisory services for investments, retirement, mortgage, estate planning, tax planning, and insurance. The Mackenzi segment offers funds products, private wealth solutions, managed assets, group plans, tax and estate planning, payout service, and dollar cost averaging. The Corporate and Other segment includes net investment income that are not allocated to other segments, proportionate share of earnings of Great-West Lifeco Inc., operating results for Investment Planning Counsel Inc., and consolidation elimination entries. The company was founded on August 3, 1978 and is headquartered in Winnipeg, Canada.

The company’s shares closed last Friday at $39.68.