iA Financial (TSE:IAG) Stock Price Expected to Rise, CIBC Analyst Says

iA Financial (TSE:IAG) had its price target increased by CIBC from C$120.00 to C$133.00 in a research note published on Thursday,BayStreet.CA reports.

Several other analysts have also recently issued reports on the company. BMO Capital Markets increased their target price on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. National Bank Financial cut iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Cormark raised their price objective on iA Financial from C$127.00 to C$130.00 in a research report on Wednesday. Cibc World Mkts raised iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, National Bankshares raised their price objective on iA Financial from C$118.00 to C$121.00 in a research report on Wednesday. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$128.50.

iA Financial Stock Down 1.7 %

TSE IAG traded down C$2.19 during midday trading on Thursday, hitting C$128.20. 117,378 shares of the company traded hands, compared to its average volume of 283,610. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The company has a market cap of C$12.20 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company’s 50-day simple moving average is C$111.83 and its 200-day simple moving average is C$97.04. iA Financial has a 52 week low of C$80.95 and a 52 week high of C$134.29.

iA Financial (TSE:IAG) last announced its earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.58 by C$0.17. The business had revenue of C$1.64 billion for the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. As a group, equities research analysts forecast that iA Financial will post 11.6187564 earnings per share for the current year.

iA Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a dividend of $0.90 per share. The ex-dividend date is Friday, November 22nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.81%. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s dividend payout ratio (DPR) is currently 43.91%.

Insider Activity at iA Financial

In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. 0.09% of the stock is owned by insiders.

iA Financial Company Profile

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.