iA Financial (TSE:IAG) Given New C$149.00 Price Target at CIBC

iA Financial (TSE:IAG) had its price objective raised by CIBC from C$144.00 to C$149.00 in a research report sent to investors on Thursday,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other equities research analysts have also recently commented on IAG. Royal Bank of Canada raised their price objective on iA Financial from C$137.00 to C$141.00 and gave the company a “sector perform” rating in a research note on Thursday. Scotiabank cut iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. TD Securities raised their price objective on iA Financial from C$143.00 to C$146.00 and gave the company a “buy” rating in a research note on Wednesday. Cormark raised their price objective on iA Financial from C$127.00 to C$130.00 in a research note on Wednesday, November 6th. Finally, BMO Capital Markets raised their price objective on iA Financial from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$140.63.

iA Financial Stock Performance

Shares of IAG stock opened at C$129.25 on Thursday. The company has a market cap of C$12.13 billion, a P/E ratio of 12.31, a PEG ratio of 1.26 and a beta of 1.13. The stock has a 50 day simple moving average of C$131.75 and a two-hundred day simple moving average of C$120.05. iA Financial has a fifty-two week low of C$80.95 and a fifty-two week high of C$141.88.

iA Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.79%. iA Financial’s payout ratio is 31.25%.

Insider Activity at iA Financial

In related news, Senior Officer Alain Bergeron sold 510 shares of iA Financial stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$133.58, for a total transaction of C$68,125.80. Also, Director Denis Ricard sold 5,000 shares of iA Financial stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of C$137.00, for a total value of C$685,000.00. Insiders have sold a total of 11,010 shares of company stock valued at $1,489,142 over 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.