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

by · The Cerbat Gem

iA Financial (TSE:IAG – Free Report) had its price target lifted by CIBC from C$106.00 to C$120.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages also recently weighed in on IAG. TD Securities boosted 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. BMO Capital Markets upped their price objective on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. Royal Bank of Canada lifted their target price on shares of iA Financial from C$102.00 to C$105.00 and gave the stock a “moderate buy” rating in a research note on Thursday, August 8th. National Bankshares lowered iA Financial from an “outperform” rating to a “sector perform” rating and increased their price target for the stock from C$102.00 to C$118.00 in a research note on Friday, October 25th. Finally, Scotiabank lifted their price objective on iA Financial from C$100.00 to C$110.00 in a research report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$111.00.

Read Our Latest Report on IAG

iA Financial Stock Up 0.7 %

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. iA Financial has a 12 month low of C$80.95 and a 12 month high of C$119.25. The firm has a market capitalization of C$10.86 billion, a PE ratio of 15.29, a P/E/G ratio of 1.26 and a beta of 1.13. The company’s 50 day simple moving average is C$110.06 and its 200-day simple moving average is C$95.83.

iA Financial (TSE:IAG – Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, beating 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 firm had revenue of C$1.64 billion for the quarter. Equities analysts expect that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

iA Financial Announces Dividend

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

About iA Financial

(Get Free Report)

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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