IGM Financial Posts Mixed 4Q Results; No Change to Our CAD 42 per Share FVE
There was little in narrow-moat-rated IGM Financial's fourth-quarter results that would alter our long-term view of the firm. We've left our CAD 42 per share fair value estimate in place.IGM Financial closed out the December quarter with CAD 156.5 billion in managed assets, reflective of a 4.3% sequential (and 9.7% year-over-year) increase in fee-earning assets. Investors Group, which accounts for 56% of the firm's total AUM, reported a 2.6% sequential (and 8.3% year-over-year) increase in its...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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