CIBC Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAGFree Report) had its price target lifted by CIBC from C$120.00 to C$133.00 in a research note published on Thursday,BayStreet.CA reports.

IAG has been the topic of several other reports. National Bankshares increased their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday. Cormark increased their price objective on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday. Scotiabank increased their price objective on shares of iA Financial from C$126.00 to C$143.00 in a research report on Thursday. BMO Capital Markets upped their target price on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. Finally, TD Securities upped their target price on shares of iA Financial from C$132.00 to C$135.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$128.50.

Check Out Our Latest Research Report on iA Financial

iA Financial Stock Performance

Shares of IAG stock opened at C$127.99 on Thursday. iA Financial has a one year low of C$80.95 and a one year high of C$134.29. The company’s 50-day moving average is C$112.36 and its 200 day moving average is C$97.25. The company has a market capitalization of C$12.18 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22.

iA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, November 22nd. This is a boost from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s dividend payout ratio is 43.91%.

Insider Transactions at iA Financial

In other news, Director Denis Ricard sold 7,200 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total value of C$943,200.00. In other news, Director Denis Ricard sold 7,200 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total value of C$943,200.00. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total transaction of C$130,600.00. Company insiders own 0.09% of the company’s stock.

About iA Financial

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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.

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Analyst Recommendations for iA Financial (TSE:IAG)

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