Latest news for IGM Financial (OTC:IGIFF) Stock

IGM Financial

IGM FINANCIAL INC

IGM Financial is the largest non-bank-affiliated asset manager in Canada. The firm is part of the Power Financial group of companies, which holds a 62% equity stake in IGM Financial as well as stakes in Great-West Life, London Life, and Canada Life. IGM has two main operating divisions—asset management (operated through Mackenzie Investments) and wealth management (via its IG Wealth Management subsidiary)—that provide investment management products and services. At the end of May 2024, IGM Financial had CAD 236.4 billion in AUM (including CAD 79.2 billion in AUM that was being managed for its IG Wealth Management arm) at Mackenzie Investments, CAD 113.8 billion in assets under advisement at its IG Wealth Management subsidiary, and CAD 14.7 billion in other AUA.

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RBC Capital Slashes IGM Financial Price Target By 11%

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Drake, Ryan Reynolds And Other Celebs Join WealthSimple&#39;s $610M Funding Round At $4B Valuation: Bloomberg

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Stocks That Hit 52-Week Highs On Thursday

IGM FINANCIAL INC ORD by IGM Financial Inc.

IGM Financial Inc

IGM Financial (TSE:IGM) has released an update. IGM Financial Inc. reported a mixed first quarter for 2024 with net earnings of $223.4 million, a d...

IGM Financial Reports Growth Amidst Challenges

Analysts have been eager to weigh in on the Financial sector with new ratings on Coinbase Global (COIN – Research Report), IGM Financial (IGIFF – R...

Analysts Have Conflicting Sentiments on These Financial Companies: Coinbase Global (COIN), IGM Financial (OtherIGIFF) and Rocket Companies (RKT)

IGM Financial Inc. 2024 Q1 - Results - Earnings Call Presentation

CIBC analyst Nik Priebe maintained a Buy rating on IGM Financial (IGIFF – Research Report) today and set a price target of C$45.00. The company's s...

IGM Financial (IGIFF) Gets a Buy from CIBC

IGM Financial Non-GAAP EPS of $0.94

IGM Financial (TSE:IGM) has released an update. IGM Financial Inc., a leading Canadian wealth and asset management company, announced the successfu...

IGM Financial Directors Overwhelmingly Elected

IGM Financial Inc. (IGIFF) Q1 2024 Earnings Call Transcript

Jefferies analyst Aria Samarzadeh maintained a Hold rating on IGM Financial (IGIFF – Research Report) today and set a price target of C$38.00. The ...

Jefferies Sticks to Their Hold Rating for IGM Financial (IGIFF)

Power Corporation of Canada: Blue Chip Assets For 25% Off, Plus A 5.7% Yield

IGM Financial's June outflows increase on Canada's tax policy changes

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<ul>
	<li>RBC Capital&nbsp;analyst Geoffrey Kwan&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/IGIFF" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">lowered the price target</a>&nbsp;for&nbsp;IGM Financial Inc.&nbsp;(TSX:<a class="ticker" href="https://www.benzinga.com/stock/IGM#TSX">IGM</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/IGIFF#OTC">IGIFF</a>) to C$47 from C$53 while maintaining the Sector Perform rating on the shares.</li>
	<li>Kwan notes the reduced target reflects lower financial forecasts given the significant decline in equity markets since the last report.</li>
	<li>Kwan believes IGM is delivering the best fundamentals within the traditional asset/wealth manager coverage universe and in the current volatile market environment, is the most defensive stock within the group.</li>
	<li>The analyst views IGM shares as appropriate for investors looking for attractive valuation upside within asset/wealth managers when markets improve but want downside protection should the market decline further and have potential catalysts (e.g., M&amp;A), strong fundamentals, and an inexpensive valuation.</li>
	<li>Price Action:&nbsp;IGM shares closed lower by 2.51% at C$36.48 on TSX on Monday.</li>
</ul>

<ul>
	<li>Canada&rsquo;s&nbsp;Power Corporation Of Canada&rsquo;s&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/pwcdf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">PWCDF</a>) online brokerage, Wealthsimple, has raised $610 million (C$750 million) at a $4 billion valuation, over three times its October valuation,&nbsp;<a class="editor-rtfLink" href="https://www.bloomberg.com/news/articles/2021-05-03/wealthsimple-raises-money-at-4-billion-valuation-drake-buys-in?srnd=technology-vp&amp;sref=TBDibEcD" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bloomberg reports</a>.</li>
	<li>Existing investors Meritech Capital Partners and Greylock Partners led the funding round, including Canadian celebrities like rapper Drake, actors Ryan Reynolds and Michael J. Fox, and basketball player Kelly Olynyk.</li>
	<li>Wealthsimple was capitalizing on the surging tech valuations and online trading that have benefitted the likes of Robinhood Markets Inc.</li>
	<li>Wealthsimple offers commission-free stock trading, automated investing, cryptocurrency trading, and tax services.</li>
	<li>The company was building out cash, checking, insurance, and mortgage products to become a primary financial institution for users, CEO Michael Kitchen said last year.</li>
	<li>Wealthsimple procured C$114 million at a C$1.5 billion post-money valuation in October.</li>
	<li>The latest funding round consisted of a C$250 million primary offering by Wealthsimple and a C$500 million secondary offering from Power Corp and its subsidiaries.</li>
	<li>Power Corp will own a 43% stake in Wealthsimple after the financing, including the portions owned by Power-controlled&nbsp;IGM Financial Inc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/igiff#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">IGIFF</a>) and&nbsp;Great-West Lifeco Inc&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/gwlif#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">GWLIF</a>).</li>
	<li>Price action:&nbsp;PWCDF shares are trading higher by 2.1% at $29.75 on the last check Monday.</li>
</ul>

Drake, Ryan Reynolds And Other Celebs Join WealthSimple's $610M Funding Round At $4B Valuation: Bloomberg

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