CIBC Raises iA Financial (TSE:IAG) Price Target to C$143.00

iA Financial (TSE:IAG) had its price objective upped by CIBC from C$133.00 to C$143.00 in a research report released on Wednesday morning,BayStreet.CA reports.

Several other research firms have also commented on IAG. BMO Capital Markets upped their price objective on iA Financial from C$126.00 to C$140.00 in a research report on Thursday, November 7th. Cormark increased their price target on shares of iA Financial from C$127.00 to C$130.00 in a report on Wednesday, November 6th. Scotiabank raised their price target on shares of iA Financial from C$126.00 to C$143.00 in a research report on Thursday, November 7th. National Bankshares upped their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada cut iA Financial from an “outperform” rating to a “sector perform” rating and raised their target price for the company from C$105.00 to C$137.00 in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$129.75.

iA Financial Stock Up 0.8 %

Shares of IAG opened at C$129.89 on Wednesday. The company has a market capitalization of C$12.36 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a 52 week low of C$80.95 and a 52 week high of C$134.29. The stock’s 50-day moving average price is C$113.95 and its 200-day moving average price is C$98.35. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39.

iA Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.77%. This is a boost from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s payout ratio is currently 43.91%.

Insider Buying and Selling

In related news, Senior Officer Pierre Miron sold 15,000 shares of iA Financial stock in a transaction dated Monday, November 11th. The stock was sold at an average price of C$129.23, for a total value of C$1,938,415.50. In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction 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. Also, Senior Officer Pierre Miron sold 15,000 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Insiders sold a total of 26,000 shares of company stock worth $3,379,016 in the last 90 days. Insiders own 0.09% of the company’s stock.

About iA Financial

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.