Overview

* IGM Financial ( IGIFF ) Q2 adjusted EPS beats analyst expectations, per LSEG data

* Record high Q2 adjusted net earnings of C$252.7 mln, up 14.7% yr/yr

* Record high assets under management and advisement of C$283.9 bln, up 12.5% yr/yr

Outlook

* IGM Financial ( IGIFF ) emphasizes strong position for growth due to high asset levels

Result Drivers

* ASSET GROWTH - Record high assets under management and advisement reached C$283.9 bln, up 12.5% yr/yr

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat C$1.07 C$1 (5

Adjusted Analysts

EPS )

Q2 EPS C$1.04

Q2 Net C$246.70

Income mln

Q2 C$283.90

Assets bln

Under

Manageme

nt

Q2 C$0.5625

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the investment management & fund operators peer group is "buy."

* Wall Street's median 12-month price target for IGM Financial Inc ( IGIFF ) is C$51.00, about 8.9% above its August 5 closing price of C$46.47

* The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)