iA Financial (TSE:IAG) Price Target Raised to C$120.00

iA Financial (TSE:IAG) had its price objective raised by CIBC from C$106.00 to C$120.00 in a research report report published on Wednesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. National Bank Financial cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Securities lifted their target price on shares of iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Scotiabank increased their price target on iA Financial from C$100.00 to C$110.00 in a research note on Thursday, August 8th. National Bankshares cut iA Financial from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$102.00 to C$118.00 in a report on Friday, October 25th. Finally, BMO Capital Markets increased their target price on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. Three 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$111.00.

iA Financial Trading Up 0.7 %

Shares of IAG stock opened at C$114.19 on Wednesday. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The company has a market cap of C$10.86 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$119.25. The firm has a fifty day moving average price of C$110.06 and a 200-day moving average price of C$95.83.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, topping analysts’ consensus estimates of C$2.58 by C$0.17. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. The business had revenue of C$1.64 billion during the quarter. As a group, equities analysts predict that iA Financial will post 11.6187564 earnings per share for the current year.

iA Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 23rd were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 23rd. iA Financial’s payout ratio is presently 43.91%.

About iA Financial

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.