iA Financial (TSE:IAG) Upgraded by CIBC to “Outperform” Rating

iA Financial (TSE:IAG) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a C$184.00 price objective on the stock, up from their previous price objective of C$175.00. CIBC’s price target suggests a potential upside of 3.43% from the company’s previous close.

IAG has been the topic of a number of other reports. BMO Capital Markets increased their price target on iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. National Bankshares increased their target price on iA Financial from C$146.00 to C$162.00 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. Royal Bank Of Canada boosted their price target on shares of iA Financial from C$151.00 to C$167.00 in a report on Thursday, November 6th. TD Securities increased their price objective on shares of iA Financial from C$175.00 to C$178.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Desjardins boosted their target price on shares of iA Financial from C$149.00 to C$163.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$167.00.

iA Financial Stock Down 1.7%

Shares of TSE IAG traded down C$3.12 during trading on Thursday, reaching C$177.89. 158,119 shares of the stock were exchanged, compared to its average volume of 216,505. The company has a market capitalization of C$16.39 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.26 and a beta of 1.03. The business’s 50-day moving average price is C$170.31 and its 200 day moving average price is C$157.30. iA Financial has a twelve month low of C$115.21 and a twelve month high of C$182.11.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported C$3.47 EPS for the quarter. The firm had revenue of C$6.67 billion for the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. As a group, sell-side analysts expect that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Philippe Sarfati sold 2,318 shares of iA Financial stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of C$164.30, for a total transaction of C$380,847.40. Also, Director Denis Ricard sold 3,000 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$175.25, for a total value of C$525,750.00. Following the completion of the sale, the director directly owned 50,000 shares in the company, valued at C$8,762,500. This represents a 5.66% decrease in their position. Over the last ninety days, insiders have sold 6,750 shares of company stock valued at $1,141,931. 0.09% of the stock is currently owned by corporate insiders.

About iA Financial

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.