iA Financial (TSE:IAG) Price Target Raised to C$106.00 at CIBC

iA Financial (TSE:IAG) had its price target raised by CIBC from C$100.00 to C$106.00 in a research report report published on Thursday morning, BayStreet.CA reports.

IAG has been the topic of a number of other research reports. BMO Capital Markets upped their target price on iA Financial from C$102.00 to C$111.00 in a report on Thursday. Scotiabank increased their target price on shares of iA Financial from C$100.00 to C$110.00 in a research report on Thursday. Cormark boosted their price target on shares of iA Financial from C$103.00 to C$105.00 in a report on Friday, May 10th. Royal Bank of Canada increased their price objective on iA Financial from C$102.00 to C$105.00 in a report on Thursday. Finally, TD Securities lifted their price objective on iA Financial from C$110.00 to C$114.00 and gave the company a buy rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, iA Financial presently has a consensus rating of Moderate Buy and a consensus price target of C$94.06.

iA Financial Trading Up 3.0 %

Shares of TSE:IAG traded up C$2.93 during mid-day trading on Thursday, hitting C$99.23. The stock had a trading volume of 360,301 shares, compared to its average volume of 277,637. iA Financial has a 12-month low of C$77.61 and a 12-month high of C$99.31. The company has a debt-to-equity ratio of 20.29, a quick ratio of 0.17 and a current ratio of 6.92. The company has a market cap of C$9.44 billion, a PE ratio of 13.28, a P/E/G ratio of 1.26 and a beta of 1.11. The company’s 50 day moving average is C$88.30 and its 200-day moving average is C$87.88.

iA Financial (TSE:IAG) last released its earnings results on Thursday, May 9th. The company reported C$2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.38 by C$0.06. iA Financial had a return on equity of 10.51% and a net margin of 10.50%. The company had revenue of C$1.60 billion during the quarter. On average, sell-side analysts predict that iA Financial will post 10.6511628 EPS for the current year.

iA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, August 23rd. This represents a $3.28 annualized dividend and a dividend yield of 3.31%. iA Financial’s payout ratio is 43.91%.

Insider Buying and Selling

In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction on Monday, May 27th. The shares were sold at an average price of C$93.42, for a total value of C$467,091.50. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately C$46,709.15. In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 27th. The shares were sold at an average price of C$93.42, for a total transaction of C$467,091.50. Following the completion of the transaction, the insider now owns 500 shares in the company, valued at C$46,709.15. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of iA Financial stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$91.42, for a total value of C$91,420.00. Insiders have sold a total of 31,000 shares of company stock valued at $2,850,331 over the last three months. 0.09% of the stock is owned by corporate insiders.

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.