IGM Financial Inc. operates as a wealth and asset management company in Canada.
Established dividend payer and good value.
Share Price & News
How has IGM Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IGM's share price has been volatile over the past 3 months.
7 Day Return
CA Capital Markets
1 Year Return
CA Capital Markets
Return vs Industry: IGM underperformed the Canadian Capital Markets industry which returned 3.5% over the past year.
Return vs Market: IGM underperformed the Canadian Market which returned -11.1% over the past year.
Price Volatility Vs. Market
How volatile is IGM Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall StInterested In IGM Financial's (TSE:IGM) Upcoming CA$0.56 Dividend? You Have Three Days Left
1 month ago | Simply Wall StKey Things To Watch Out For If You Are After IGM Financial Inc.'s (TSE:IGM) 6.9% Dividend
1 month ago | Simply Wall StHow Should Investors Feel About IGM Financial Inc.'s (TSE:IGM) CEO Pay?
Is IGM Financial undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IGM (CA$32.17) is trading below our estimate of fair value (CA$57.09)
Significantly Below Fair Value: IGM is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: IGM is good value based on its PE Ratio (10.4x) compared to the CA Capital Markets industry average (29.2x).
PE vs Market: IGM is good value based on its PE Ratio (10.4x) compared to the Canadian market (13.2x).
Price to Earnings Growth Ratio
PEG Ratio: IGM is poor value based on its PEG Ratio (4.1x)
Price to Book Ratio
PB vs Industry: IGM is overvalued based on its PB Ratio (1.7x) compared to the CA Capital Markets industry average (0.9x).
How is IGM Financial forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IGM's forecast earnings growth (2.6% per year) is above the savings rate (1.7%).
Earnings vs Market: IGM's earnings (2.6% per year) are forecast to grow slower than the Canadian market (23.7% per year).
High Growth Earnings: IGM's earnings are forecast to grow, but not significantly.
Revenue vs Market: IGM's revenue (0.6% per year) is forecast to grow slower than the Canadian market (5.6% per year).
High Growth Revenue: IGM's revenue (0.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if IGM's Return on Equity is forecast to be high in 3 years time
How has IGM Financial performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IGM has high quality earnings.
Growing Profit Margin: IGM's current net profit margins (21.8%) are lower than last year (22.3%).
Past Earnings Growth Analysis
Earnings Trend: IGM's earnings have declined by -1.2% per year over the past 5 years.
Accelerating Growth: IGM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: IGM had negative earnings growth (-1.2%) over the past year, making it difficult to compare to the Capital Markets industry average (-5.4%).
Return on Equity
High ROE: IGM's Return on Equity (15.9%) is considered low.
How is IGM Financial's financial position?
Financial Position Analysis
Short Term Liabilities: IGM's short term assets (CA$9.4B) exceed its short term liabilities (CA$2.8B).
Long Term Liabilities: IGM's short term assets (CA$9.4B) exceed its long term liabilities (CA$8.1B).
Debt to Equity History and Analysis
Debt Level: IGM's debt to equity ratio (45.2%) is considered high.
Reducing Debt: IGM's debt to equity ratio has increased from 27.4% to 45.2% over the past 5 years.
Debt Coverage: IGM's debt is well covered by operating cash flow (36.8%).
Interest Coverage: IGM's interest payments on its debt are well covered by EBIT (4.5x coverage).
What is IGM Financial current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: IGM's dividend (6.99%) is higher than the bottom 25% of dividend payers in the Canadian market (1.87%).
High Dividend: IGM's dividend (6.99%) is in the top 25% of dividend payers in the Canadian market (6.07%)
Stability and Growth of Payments
Stable Dividend: IGM's dividends per share have been stable in the past 10 years.
Growing Dividend: IGM's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (72.5%), IGM's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Jeff Carney (58yo)
Mr. Jeffrey Robert Carney, also known as Jeff, CFA, serves as the Chief Executive Officer and President at Investors Group Inc. since May, 6, 2016. Mr. Carney serves as a President and Chief Executive Offi ...
CEO Compensation Analysis
Compensation vs Market: Jeff's total compensation ($USD5.62M) is above average for companies of similar size in the Canadian market ($USD3.49M).
Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.
|Executive VP of Finance & CFO||2.5yrs||CA$1.42m||no data|
|Chief Operating Officer||3.08yrs||CA$2.60m||0.00099% CA$75.9k|
|President & CEO of Mackenzie Investments||4yrs||CA$6.74m||no data|
|Head of Investor Relations & Treasurer||no data||no data||no data|
|Executive VP & General Counsel||no data||no data||0.0013% CA$95.8k|
|Executive VP and Chief Marketing & Strategy Officer||no data||no data||0.00076% CA$58.3k|
|Executive VP||no data||no data||0.0013% CA$100.4k|
|Executive VP & Chief Human Resources Officer||1.83yrs||no data||no data|
|Vice-Chairman||no data||no data||no data|
Experienced Management: IGM's management team is considered experienced (3.1 years average tenure).
|Independent Corporate Director||6.17yrs||CA$170.00k||0.00038% CA$29.1k|
|Independent Director||28.25yrs||CA$177.50k||no data|
|Independent Director||36.83yrs||CA$177.50k||no data|
|Independent Director||11.17yrs||CA$185.00k||no data|
|Independent Director||8.17yrs||CA$195.00k||0.043% CA$3.3m|
|Independent Director||22.25yrs||CA$220.00k||0.00042% CA$32.2k|
|Independent Chairman of the Board||no data||CA$292.50k||0.050% CA$3.9m|
|Independent Director||5.17yrs||CA$190.00k||0.0025% CA$193.2k|
|Independent Director||5.08yrs||CA$182.50k||no data|
Experienced Board: IGM's board of directors are considered experienced (8.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
IGM Financial Inc.'s company bio, employee growth, exchange listings and data sources
- Name: IGM Financial Inc.
- Ticker: IGM
- Exchange: TSX
- Founded: 1894
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: CA$7.666b
- Shares outstanding: 238.31m
- Website: https://www.igmfinancial.com
Number of Employees
- IGM Financial Inc.
- 447 Portage Avenue
- R3B 3H5
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|IGM||TSX (The Toronto Stock Exchange)||Yes||Common Shares||CA||CAD||Nov 1986|
|C7G||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Nov 1986|
|IGIF.F||OTCPK (Pink Sheets LLC)||Yes||Common Shares||US||USD||Nov 1986|
IGM Financial Inc. operates as a wealth and asset management company in Canada. It operates through IG Wealth Management, Mackenzie Investments, and Corporate and Other segments. The company also offers financial planning services, including investment, tax, retirement, education, risk management, and estate planning; strategic investment planning tools; mutual funds; iProfile, a portfolio management program; and separately managed accounts and fee-based brokerage accounts. In addition, it provides segregated funds; term, universal life, whole life, disability, critical illness, long-term care, and personal health care coverage and group insurance products; securities services; and residential mortgages. Further, the company offers banking products, such as investment loans, lines of credit, personal loans, creditor insurance, deposit accounts, and credit cards; cash management solutions; private wealth solutions; and investment management, advisory, and related services. It offers its products and services through a network of consultants, as well as retail, strategic alliance, and institutional distribution channels. The company was founded in 1894 and is headquartered in Winnipeg, Canada. IGM Financial Inc. is a subsidiary of Power Financial Corporation.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/11 23:57|
|End of Day Share Price||2020/07/10 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.