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

iA Financial (TSE:IAG) had its price target upped by research analysts at CIBC from C$143.00 to C$144.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 5.90% from the stock’s current price.

Several other analysts also recently commented on IAG. TD Securities increased their target price on shares of iA Financial from C$132.00 to C$135.00 in a report on Wednesday, November 6th. National Bank Financial lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. BMO Capital Markets boosted their target price on iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Royal Bank of Canada lowered iA Financial from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$105.00 to C$137.00 in a report on Thursday, November 7th. Finally, National Bankshares upped their price objective on iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, iA Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$129.88.

iA Financial Stock Down 0.1 %

Shares of IAG traded down C$0.12 on Thursday, reaching C$135.98. The company’s stock had a trading volume of 53,775 shares, compared to its average volume of 159,855. The stock has a market capitalization of C$12.94 billion, a PE ratio of 18.20, a PEG 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$138.01. The firm has a fifty day moving average of C$132.65 and a 200-day moving average of C$115.26.

iA Financial (TSE:IAG) last posted its earnings results on Tuesday, November 5th. The company reported C$2.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.63 by C$0.30. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. Equities analysts predict that iA Financial will post 11.6187564 EPS for the current year.

Insiders Place Their Bets

In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total value of C$130,600.00. Also, 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 value of C$1,938,415.50. Insiders sold 58,010 shares of company stock worth $7,675,070 over the last quarter. 0.09% of the stock is currently owned by company insiders.

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.