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

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

Several other research analysts have also issued reports on the stock. BMO Capital Markets lifted their price target on shares of iA Financial from C$126.00 to C$140.00 in a research report on Thursday, November 7th. TD Securities lifted their price objective on shares of iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. National Bankshares lifted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday, November 6th. Cormark lifted their price objective on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada cut shares of iA Financial from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from C$105.00 to C$137.00 in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$129.75.

iA Financial Stock Performance

IAG opened at C$131.15 on Wednesday. The business’s 50 day moving average is C$115.07 and its 200-day moving average is C$98.91. The stock has a market cap of C$12.48 billion, a PE ratio of 17.56, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39. iA Financial has a twelve month low of C$80.95 and a twelve month high of C$134.29.

iA Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given 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 2.74%. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s dividend payout ratio is currently 43.91%.

Insider Activity

In other iA Financial news, Senior Officer Pierre Miron sold 15,000 shares of the company’s 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. Also, Director Denis Ricard sold 7,200 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total transaction of C$943,200.00. Over the last 90 days, insiders sold 36,000 shares of company stock valued at $4,699,016. Insiders own 0.09% of the company’s stock.

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.