IGM Financial Inc.

IGM-T

TSE:IGM

38.21
0.22 (0.58%)
IGM Financial Inc. is a Canadian financial services company, with $133.6 billion in total assets under management as at December 31, 2015. It is a publicly traded subsidiary of Power Corporation of Canada.
More at Wikipedia

Analysis and Opinions about IGM-T

Signal
Opinion
Expert
DON'T BUY
DON'T BUY
December 3, 2019
They're in a tough spot with buyers going more into ETFs. But IGM has support from the Power Group. He doesn't see a strong reason to hold this, though.
IGM Financial Inc. (IGM-T)
December 3, 2019
They're in a tough spot with buyers going more into ETFs. But IGM has support from the Power Group. He doesn't see a strong reason to hold this, though.
Michael Sprung
President, Sprung Investment Management
Price
$38.070
Owned
No
WAIT
WAIT
January 3, 2019
Is the 7.5% dividend sustainable? - He thinks the dividend is sustainable as the company has a nice balance sheet and the company has a different business model compared to other mutual fund companies. That hasn't stopped the stock to come down like all other mutual fund stocks. He would wait until the market works it out.
Is the 7.5% dividend sustainable? - He thinks the dividend is sustainable as the company has a nice balance sheet and the company has a different business model compared to other mutual fund companies. That hasn't stopped the stock to come down like all other mutual fund stocks. He would wait until the market works it out.
Ross Healy
Chairman, Strategic Analysis Corp
Price
$31.060
Owned
Unknown
DON'T BUY
DON'T BUY
April 9, 2018

Have long been the highest cost provider but he does not know if that is still the case today. They have a lot more headwinds than tailwinds.

Have long been the highest cost provider but he does not know if that is still the case today. They have a lot more headwinds than tailwinds.

Larry Berman CFA, CMT, CTA
Chief Investment Officer, Partner, ETF Capital Management Inc.
Price
$37.370
Owned
Unknown
COMMENT
COMMENT
January 12, 2018

Banging its head against his EBV +3 level. Closed at $43.48, and he has a model price of $49.17, a 36% upside. However, the regulatory environment in Canada is really, really tough, and he doesn't see it changing anytime soon.

IGM Financial Inc. (IGM-T)
January 12, 2018

Banging its head against his EBV +3 level. Closed at $43.48, and he has a model price of $49.17, a 36% upside. However, the regulatory environment in Canada is really, really tough, and he doesn't see it changing anytime soon.

Brian Acker, CA
Chief Executive Officer, President and Chief Inves, Acker Finley Inc.
Price
$43.330
Owned
Unknown
COMMENT
COMMENT
August 1, 2017

As an established Canadian company, this has one of the higher dividends, close to 6%. This has been under pressure from the move away from commission based products to EFT’s, etc. The company is now positioned and the stock has been washed out. Being in one of the great bull markets of history, it is going to help all stocks, and this company is going to do just fine.

As an established Canadian company, this has one of the higher dividends, close to 6%. This has been under pressure from the move away from commission based products to EFT’s, etc. The company is now positioned and the stock has been washed out. Being in one of the great bull markets of history, it is going to help all stocks, and this company is going to do just fine.

Bruce Murray
CEO & Chief Investment Officer, The Murray Wealth Group
Price
$42.430
Owned
Yes
DON'T BUY
DON'T BUY
March 28, 2017

It has issues. Its underlying mutual funds are generally high fees. It is more vulnerable to a sell off because the shares are expensive, 17 times PE. The mutual fund space is being hit with lower fees.

It has issues. Its underlying mutual funds are generally high fees. It is more vulnerable to a sell off because the shares are expensive, 17 times PE. The mutual fund space is being hit with lower fees.

Paul Gardner, CFA
Partner and Portfolio Manager, Avenue Investment Management
Price
$40.720
Owned
Unknown
DON'T BUY
DON'T BUY
January 11, 2017

This has been a tremendous growth story over the years. Has some concerns about conventional mutual fund managers as a whole, including this company. Financial services, specifically mutual funds and asset management is a mature industry that is not growing at 2, 3, 5 or 6X GDP growth rates any more. It is becoming more fee competitive. There are costly and disruptive regulatory forces on the horizon. To the extent that management fees will be phased out over time by regulatory action, it is going to prompt a lot of disruption.

IGM Financial Inc. (IGM-T)
January 11, 2017

This has been a tremendous growth story over the years. Has some concerns about conventional mutual fund managers as a whole, including this company. Financial services, specifically mutual funds and asset management is a mature industry that is not growing at 2, 3, 5 or 6X GDP growth rates any more. It is becoming more fee competitive. There are costly and disruptive regulatory forces on the horizon. To the extent that management fees will be phased out over time by regulatory action, it is going to prompt a lot of disruption.

Brian Madden
Senior VP & Portfolio Manager, Goodreid Investment Council
Price
$40.840
Owned
No
COMMENT
COMMENT
October 5, 2016

If you are coming into this as a new investment, he would prefer Power Financial (PWF-T) because you have investors group as well as Great West Life (GWO-T). While not as exciting, it would be a good hedge in that it would stand to benefit from a rising interest rate environment. However, IGM is at a low right now, so doesn’t think you will be hurt by continuing to own it.

If you are coming into this as a new investment, he would prefer Power Financial (PWF-T) because you have investors group as well as Great West Life (GWO-T). While not as exciting, it would be a good hedge in that it would stand to benefit from a rising interest rate environment. However, IGM is at a low right now, so doesn’t think you will be hurt by continuing to own it.

Brendan Caldwell
President, Caldwell Securities
Price
$35.410
Owned
Unknown
COMMENT
COMMENT
June 10, 2016

Shares could suffer when the new regulations come into place on July 15. They will force brokers and mutual funds to fully disclose all embedded fees within the clients’ statements. Thinks there will be more passive investing.

Shares could suffer when the new regulations come into place on July 15. They will force brokers and mutual funds to fully disclose all embedded fees within the clients’ statements. Thinks there will be more passive investing.

Jerome Hass
Portfolio Manager, Lightwater Partners
Price
$36.640
Owned
Unknown
WATCH
WATCH
May 4, 2016

It is a steady eddie. It is a good long term play. He would not own it right now. There is uncertainty with regulatory changes coming to the industry so he would not buy it right now.

It is a steady eddie. It is a good long term play. He would not own it right now. There is uncertainty with regulatory changes coming to the industry so he would not buy it right now.

Greg Newman
Director & Portfolio Manager, Scotia Wealth Management
Price
$37.760
Owned
Unknown
DON'T BUY
DON'T BUY
April 29, 2016

Money has been coming out of equity mutual funds. Ironically this one has been doing very well relative to the industry over the last year. A tough business and could become even tougher on July 1 when CMR2 comes out, the new mandate of the OSC, where fees are going to be disclosed. Valuation is cheap, but there are too many headwinds. He would prefer Fiera Capital Corp (FSZ-T) which focuses on the institutional and US markets.

Money has been coming out of equity mutual funds. Ironically this one has been doing very well relative to the industry over the last year. A tough business and could become even tougher on July 1 when CMR2 comes out, the new mandate of the OSC, where fees are going to be disclosed. Valuation is cheap, but there are too many headwinds. He would prefer Fiera Capital Corp (FSZ-T) which focuses on the institutional and US markets.

Don Lato
President, Padlock Investment Management
Price
$39.510
Owned
Unknown
COMMENT
COMMENT
April 25, 2016

First preferred 5.9% noncumulative 1st preferred series B? Wouldn’t classify this as a secure fixed income security, so it should be a very small portion of your fixed income portion. Wouldn’t be a buyer of the stock, but might consider this “preferred” as a Hold.

First preferred 5.9% noncumulative 1st preferred series B? Wouldn’t classify this as a secure fixed income security, so it should be a very small portion of your fixed income portion. Wouldn’t be a buyer of the stock, but might consider this “preferred” as a Hold.

Paul Tepsich
Portfolio Manager, High Rock Capital Management Inc.
Price
$39.310
Owned
Unknown
COMMENT
COMMENT
March 15, 2016

We have an improving stock market and people generally under-own equities. If he wanted exposure to companies that benefit if the market recovers, then he would want to look at investment management companies, and this company fits that bill. This has a lot of exposure to Canada and Canadian investors, so it will benefit. He would prefer something that will benefit more from the US market. You should do fine with this as it will rally with the market, but he would prefer Blackrock (BLK-N), a big manager of ETF’s. ETF’s are growing like wildfire. They will also benefit from management fees they get paid managing these ETF’s. Dividend yield of 6.4%.

We have an improving stock market and people generally under-own equities. If he wanted exposure to companies that benefit if the market recovers, then he would want to look at investment management companies, and this company fits that bill. This has a lot of exposure to Canada and Canadian investors, so it will benefit. He would prefer something that will benefit more from the US market. You should do fine with this as it will rally with the market, but he would prefer Blackrock (BLK-N), a big manager of ETF’s. ETF’s are growing like wildfire. They will also benefit from management fees they get paid managing these ETF’s. Dividend yield of 6.4%.

David Burrows
President & Chief Investment Strategist, Barometer Capital Management
Price
$37.270
Owned
Unknown
HOLD
HOLD
January 26, 2016

Any mutual fund company in Canada is going to be very unpopular in this market. Despite the really good value, the stock has taken it on the chin. It has now fallen down to a level of about $31-$31.50, which is terrific support with huge upside potential. Has a wonderful yield 6.7%, and the yield is nicely covered.

IGM Financial Inc. (IGM-T)
January 26, 2016

Any mutual fund company in Canada is going to be very unpopular in this market. Despite the really good value, the stock has taken it on the chin. It has now fallen down to a level of about $31-$31.50, which is terrific support with huge upside potential. Has a wonderful yield 6.7%, and the yield is nicely covered.

Ross Healy
Chairman, Strategic Analysis Corp
Price
$33.380
Owned
Unknown
COMMENT
COMMENT
December 30, 2015

All asset management companies have been hurt in the last year, partly because the markets haven’t done very much, and they get their fees on how their assets do. Also, there are new regulations coming into the mutual fund business that is putting pressure on fees, which are way too high. A well-run company. Owns this indirectly through Power Financial (PWF-T). Thinks the asset management companies are getting into a range here where they are decent investments. He would look at this one.

IGM Financial Inc. (IGM-T)
December 30, 2015

All asset management companies have been hurt in the last year, partly because the markets haven’t done very much, and they get their fees on how their assets do. Also, there are new regulations coming into the mutual fund business that is putting pressure on fees, which are way too high. A well-run company. Owns this indirectly through Power Financial (PWF-T). Thinks the asset management companies are getting into a range here where they are decent investments. He would look at this one.

Norman Levine
Managing Director, Portfolio Management Corp
Price
$35.680
Owned
No
WAIT
WAIT
December 29, 2015

Chart shows it has had 2 little bottoms, and is positive that the downtrend has been broken. Financials in general have been pretty weak. Until this one breaks out of the downtrend channel, he would not start a new position. Rising interest rates help financials. Dividend yield of 6.3%.

IGM Financial Inc. (IGM-T)
December 29, 2015

Chart shows it has had 2 little bottoms, and is positive that the downtrend has been broken. Financials in general have been pretty weak. Until this one breaks out of the downtrend channel, he would not start a new position. Rising interest rates help financials. Dividend yield of 6.3%.

Hap (Robert) Sneddon FCSI
Chief Portfolio Manager & Founder, Castlemoore Inc.
Price
$35.670
Owned
Unknown
HOLD
HOLD
December 22, 2015

The stock is at a very attractive level to Buy. The volume has been going up a little bit. There is no reason to think it is going any lower than it is right now.

IGM Financial Inc. (IGM-T)
December 22, 2015

The stock is at a very attractive level to Buy. The volume has been going up a little bit. There is no reason to think it is going any lower than it is right now.

Elliott Fishman
Director of U.S. and international equity trading, Trading Services Group, Scotia Wealth
Price
$35.360
Owned
Yes
PAST TOP PICK
PAST TOP PICK
December 4, 2015

(A Top Pick Jan 22/15. Up 13.22%.) This is an area that is hard to get representation in Canada. This segment of the market probably has good growth potential from here.

IGM Financial Inc. (IGM-T)
December 4, 2015

(A Top Pick Jan 22/15. Up 13.22%.) This is an area that is hard to get representation in Canada. This segment of the market probably has good growth potential from here.

David Cockfield
Managing Director, Northland Wealth Management
Price
$37.640
Owned
Yes
DON'T BUY
DON'T BUY
October 9, 2015

He has no reason to think the dividend is not safe. The growth in the industry is stagnating. The only way to grow is to acquire. Margins are coming down. He has CIX-T in this sector and recommends it instead.

He has no reason to think the dividend is not safe. The growth in the industry is stagnating. The only way to grow is to acquire. Margins are coming down. He has CIX-T in this sector and recommends it instead.

John Zechner
Chairman, J. Zechner & Assoc
Price
$37.570
Owned
No
BUY
BUY
October 5, 2015

An amazing sales machine. They have great margins. They will be subject to the transparency rules coming into force next year. Companies like this will figure it out.

An amazing sales machine. They have great margins. They will be subject to the transparency rules coming into force next year. Companies like this will figure it out.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$36.160
Owned
Unknown
WEAK BUY
WEAK BUY
September 14, 2015

It has come off a lot. The dividend is 6%. They have about 5000 consultants with Investors Group, who are increasing their assets. Having their own consultants should give them the ability to continue on.

IGM Financial Inc. (IGM-T)
September 14, 2015

It has come off a lot. The dividend is 6%. They have about 5000 consultants with Investors Group, who are increasing their assets. Having their own consultants should give them the ability to continue on.

Teal Linde
Portfolio Manager & Publisher, Linde Equity Report, Linde Equity Report
Price
$35.450
Owned
No
COMMENT
COMMENT
July 14, 2015

59% owned by Power Financial (PWF-T). Has an attractive yield of 5.6%. Historically it increases its dividend every year or 2. The pace of increases has slowed more recently, but this is more a function that they are so large and they can’t grow as fast a pace as they could in the past. With the disclosure rules that are coming out for mutual fund fees, this is an overhang on mutual fund companies. Thinks the dividend is safe.

59% owned by Power Financial (PWF-T). Has an attractive yield of 5.6%. Historically it increases its dividend every year or 2. The pace of increases has slowed more recently, but this is more a function that they are so large and they can’t grow as fast a pace as they could in the past. With the disclosure rules that are coming out for mutual fund fees, this is an overhang on mutual fund companies. Thinks the dividend is safe.

Christine Poole
CEO & Managing Director, GlobeInvest Capital Management
Price
$40.270
Owned
No
HOLD
HOLD
June 15, 2015

(Market Call Minute) 5% dividend. They have a strong franchise.

(Market Call Minute) 5% dividend. They have a strong franchise.

Teal Linde
Portfolio Manager & Publisher, Linde Equity Report, Linde Equity Report
Price
$41.620
Owned
Unknown
WEAK BUY
WEAK BUY
June 3, 2015

One of the solid Canadian mutual fund companies. It has done well and is probably towards the higher end of its valuation right now. He would call this a “soft buy” here.

One of the solid Canadian mutual fund companies. It has done well and is probably towards the higher end of its valuation right now. He would call this a “soft buy” here.

Alex Ruus
Portfolio Manager, Arrow Capital Management
Price
$42.720
Owned
No
DON'T BUY
DON'T BUY
May 28, 2015

You want to buy their stock and not their mutual funds. The industry had really consolidated. They had a lot of issues because a lot of funds are high priced. We are moving into a world where they have to take less and less money. They have some high MER products. Own other parts of the power group.

You want to buy their stock and not their mutual funds. The industry had really consolidated. They had a lot of issues because a lot of funds are high priced. We are moving into a world where they have to take less and less money. They have some high MER products. Own other parts of the power group.

Paul Harris, CFA
Partner and Portfolio Manager, Harris Douglas Asset Management
Price
$42.250
Owned
Unknown
PAST TOP PICK
PAST TOP PICK
March 26, 2015

(Top Pick May 22/14, Down 9.17%) It was about turning around redemptions. Earnings have gone up but there was compression of their multiple because of pressure on their fees. His price target is down a little from last year.

(Top Pick May 22/14, Down 9.17%) It was about turning around redemptions. Earnings have gone up but there was compression of their multiple because of pressure on their fees. His price target is down a little from last year.

Jeff Young
Co-CEO & CIO, NexGen Financial
Price
$45.800
Owned
Yes
WEAK BUY
WEAK BUY
February 12, 2015

Has a phenomenal franchise. Outperforming the industry with AUM growth. There are new regulations that come into effect over the next few years and there is the feeling that this will drive mutual fund fees down. This may not be good for IGM. They are a dual class share company and he is not a fan of that. They have outperformed and gained market share.

IGM Financial Inc. (IGM-T)
February 12, 2015

Has a phenomenal franchise. Outperforming the industry with AUM growth. There are new regulations that come into effect over the next few years and there is the feeling that this will drive mutual fund fees down. This may not be good for IGM. They are a dual class share company and he is not a fan of that. They have outperformed and gained market share.

Lorne Steinberg
President & Portfolio Manager, Lorne Steinberg Wealth Management Inc
Price
$46.890
Owned
No
TOP PICK
TOP PICK
January 22, 2015

(Top Pick Jan 22/14, Up 12.14%) Benefited from currency fluctuations. The technology sector runs a bit with the economy. You need to get your US content up and this is a safe way to do it. Good expense ratio. A good solid way to participate in the US tech sector. Broad diversification.

IGM Financial Inc. (IGM-T)
January 22, 2015

(Top Pick Jan 22/14, Up 12.14%) Benefited from currency fluctuations. The technology sector runs a bit with the economy. You need to get your US content up and this is a safe way to do it. Good expense ratio. A good solid way to participate in the US tech sector. Broad diversification.

David Cockfield
Managing Director, Northland Wealth Management
Price
$44.820
Owned
Yes
DON'T BUY
DON'T BUY
December 17, 2014

The mutual fund industry is under pressure and is going to remain under pressure. There are new disclosure requirements coming out in July and he doesn’t know how that will impact it. Exchange traded funds are taking a bite. At the same time, this company has benefited from the stock market upsurge and it is a pretty good yielder. This is not an industry that he would like to be in right now.

IGM Financial Inc. (IGM-T)
December 17, 2014

The mutual fund industry is under pressure and is going to remain under pressure. There are new disclosure requirements coming out in July and he doesn’t know how that will impact it. Exchange traded funds are taking a bite. At the same time, this company has benefited from the stock market upsurge and it is a pretty good yielder. This is not an industry that he would like to be in right now.

David Baskin
President, Baskin Wealth Management
Price
$44.420
Owned
No
DON'T BUY
DON'T BUY
October 8, 2014

Just announced they were cutting some of their fees, meaning their MERs will be lower and less income. This resulted in a drop in the stock price. If you want to be exposed to this company, he would do it through either Power Financial (PWF-T) or Power Corp. (POW-T).

Just announced they were cutting some of their fees, meaning their MERs will be lower and less income. This resulted in a drop in the stock price. If you want to be exposed to this company, he would do it through either Power Financial (PWF-T) or Power Corp. (POW-T).

Michael Sprung
President, Sprung Investment Management
Price
$44.860
Owned
No
Showing 1 to 30 of 215 entries