Updating IGM Financial Inc., BlackBerry Ltd. & Thomson Reuters Corp.

Article Excerpt

IGM FINANCIAL INC. $37 (Toronto symbol IGM; Conservative Growth Portfolio, Finance sector; Shares outstanding: 239.3 million; Market cap: $8.9 billion; Price-to-sales ratio: 2.6; Dividend yield: 6.1%; TSINetwork Rating: Above Average; www.igmfinancial.com) is Canada’s largest independent mutual-fund provider. The company’s fee income rises and falls with the value of the securities it manages. Despite a 3.0% increase in assets under management, IGM’s revenue in the first quarter of 2019 fell 2.5%, to $789.1 million from $809.6 million a year earlier. That’s partly because the company earned less fee income from distributing insurance policies. IGM recently increased its stake in Personal Capital Corp. to 25.2%. That California-based firm makes software to help clients monitor their portfolios and financial goals. Partly due to a $3.4 million loss from that holding, IGM’s earnings fell 9.7%, to $167.5 million from $191.4 million. Earnings per share declined 5.1%, to $0.75 from $0.79. IGM Financial is still a buy. BLACKBERRY LTD. $12 (Toronto symbol BB; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding:…

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