iA Financial (TSE:IAG) Stock Price Expected to Rise, CIBC Analyst Says

iA Financial (TSE:IAG - Free Report) had its price objective hoisted by CIBC from C$143.00 to C$144.00 in a research report released on Thursday morning,BayStreet.CA reports.

Other analysts have also issued reports about the stock. BMO Capital Markets lifted their price objective on iA Financial from C$126.00 to C$140.00 in a research report on Thursday, November 7th. National Bankshares lifted their price target on iA Financial from C$118.00 to C$121.00 in a research report on Wednesday, November 6th. TD Securities upped their price target on iA Financial from C$132.00 to C$135.00 in a research note on Wednesday, November 6th. Cormark raised their price objective on iA Financial from C$127.00 to C$130.00 in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada downgraded shares of iA Financial from an "outperform" rating to a "sector perform" rating and upped their target price for the stock from C$105.00 to C$137.00 in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$129.88.

iA Financial Trading Down 2.8 %

Shares of iA Financial stock traded down C$3.81 during midday trading on Thursday, reaching C$130.40. 315,839 shares of the company's stock traded hands, compared to its average volume of 174,619. The stock has a 50 day moving average of C$132.68 and a 200-day moving average of C$115.95. iA Financial has a 12 month low of C$80.95 and a 12 month high of C$138.01. The company has a market cap of C$12.41 billion, a PE ratio of 17.46, 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 (TSE:IAG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 EPS for the quarter, topping the consensus estimate of C$2.63 by C$0.30. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. As a group, equities analysts expect that iA Financial will post 11.6187564 EPS for the current fiscal year.

iA Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 22nd were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Friday, November 22nd. This is a positive change from iA Financial's previous quarterly dividend of $0.82. iA Financial's payout ratio is currently 43.91%.

Insider Activity at iA Financial

In related news, Senior Officer Alain Bergeron sold 510 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of C$133.58, for a total value of C$68,125.80. Also, Senior Officer Pierre Miron sold 15,000 shares of the stock in a transaction on 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. In the last ninety days, insiders have sold 58,010 shares of company stock valued at $7,675,070. 0.09% of the stock is owned by 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.