CIBC Boosts iA Financial (TSE:IAG) Price Target to C$85.00

iA Financial (TSE:IAG – Get Rating) had its price objective increased by analysts at CIBC from C$74.00 to C$85.00 in a report issued on Wednesday, BayStreet.CA reports. CIBC’s target price points to a potential upside of 3.91% from the company’s previous close.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of iA Financial from C$82.00 to C$80.00 in a research note on Thursday, November 10th. Cormark increased their price objective on shares of iA Financial from C$87.00 to C$95.00 in a research note on Monday. Royal Bank of Canada increased their price objective on shares of iA Financial from C$88.00 to C$89.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. National Bankshares increased their price objective on shares of iA Financial from C$78.00 to C$88.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, TD Securities increased their price objective on shares of iA Financial from C$80.00 to C$81.00 and gave the stock a “buy” rating in a research note on Thursday, November 10th.

iA Financial Stock Performance

Shares of TSE IAG traded up C$0.12 during midday trading on Wednesday, reaching C$81.80. The company had a trading volume of 58,618 shares, compared to its average volume of 188,709. The business’s 50-day simple moving average is C$77.86 and its 200 day simple moving average is C$73.40. The stock has a market cap of C$8.61 billion and a P/E ratio of 11.02. iA Financial has a 1 year low of C$58.70 and a 1 year high of C$85.25. The company has a current ratio of 0.45, a quick ratio of 0.17 and a debt-to-equity ratio of 45.91.

iA Financial (TSE:IAG – Get Rating) last posted its quarterly earnings results on Wednesday, November 9th. The company reported C$2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.26 by C$0.03. The company had revenue of C$3.85 billion during the quarter. On average, analysts forecast that iA Financial will post 9.1199997 earnings per share for the current fiscal year.

Insider Activity at iA Financial

In related news, Senior Officer Renée Laflamme sold 5,000 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of C$72.55, for a total transaction of C$362,749.00. Following the sale, the insider now owns 10,587 shares in the company, valued at C$768,084.73. In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of iA Financial stock in a transaction dated Monday, November 14th. The shares were sold at an average price of C$73.15, for a total value of C$73,153.00. Following the sale, the insider now owns 42,300 shares in the company, valued at C$3,094,371.90. Also, Senior Officer Renée Laflamme sold 5,000 shares of iA Financial stock in a transaction dated Monday, November 21st. The shares were sold at an average price of C$72.55, for a total transaction of C$362,749.00. Following the completion of the sale, the insider now owns 10,587 shares in the company, valued at approximately C$768,084.73. Over the last quarter, insiders have sold 6,400 shares of company stock worth $466,702.

iA Financial Company Profile

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iA Financial Corporation Inc, through its subsidiary, Industrial Alliance Insurance and Financial Services Inc, provides various life and health insurance products in Canada and the United States. The company operates through Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, US Operations, and Other segments.