IGM Financial Inc

IGM

Equity

ISIN CA4495861060 / Valor 1864142

Toronto Stock Exchange (2024-12-24)

CAD 46.44+0.04%

IGM Financial Inc
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About company

IGM Financial Inc. is a leading financial services company that is part of the Power Corporation group. The company offers a range of wealth management services through its subsidiary corporations, including IG Wealth Management and Mackenzie Investments. With a strong reputation in the industry, IGM Financial Inc. provides investment solutions to help clients achieve their financial goals.

Summarized from source with an LLMView SourceSector: Finance

Net Earnings Growth

IGM Financial Inc. reported net earnings of $239.2 million for the third quarter of 2024, marking an increase from $209.8 million in the same quarter of 2023. This growth reflects a 14.0% rise in net earnings year-over-year, with earnings per share increasing from $0.88 to $1.01.

Adjusted Earnings Increase

For the third quarter of 2024, IGM Financial Inc.'s adjusted net earnings were $244.1 million, up from $220.5 million in the third quarter of 2023. This represents a 10.7% increase, with adjusted earnings per share rising from $0.92 to $1.03, highlighting strong financial performance.

Record Assets Under Management

IGM Financial Inc. achieved a record high in assets under management and advisement, reaching $264.9 billion by the end of the third quarter of 2024. This figure represents a 16.5% increase from the third quarter of 2023 and a 4.9% rise from the previous quarter, underscoring the company's robust asset growth.

Wealthsimple Investment Valuation

The fair value of IGM Financial Inc.'s investment in Wealthsimple Financial Corp. increased significantly by $384 million during the third quarter of 2024, reaching a total of $1.2 billion. This valuation boost reflects positive market conditions and improved business performance expectations for Wealthsimple.

Dividend Declaration

IGM Financial Inc.'s Board of Directors declared a dividend of 56.25 cents per share on the company's common shares. This dividend is scheduled for payment on January 31, 2025, to shareholders of record as of December 31, 2024, demonstrating the company's commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

30.6%1Y

-0.21%3Y

22.1%5Y

Performance

17.3%1Y

21.0%3Y

26.4%5Y

Volatility