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

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

Several other research analysts also recently weighed in on IAG. Royal Bank of Canada upped their target price on shares of iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research note on Thursday, August 8th. National Bank Financial downgraded 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 iA Financial from C$110.00 to C$114.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Scotiabank increased their price target on iA Financial from C$100.00 to C$110.00 in a report on Thursday, August 8th. Finally, National Bankshares downgraded iA Financial from an “outperform” rating to a “sector perform” rating and lifted their price objective for the stock from C$102.00 to C$118.00 in a report on Friday, October 25th. Three 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$111.00.

iA Financial Trading Up 0.7 %

Shares of IAG opened at C$114.19 on Wednesday. iA Financial has a 12 month low of C$80.95 and a 12 month high of C$119.25. The stock’s 50-day moving average is C$110.06 and its two-hundred day moving average is C$95.83. 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 stock has a market cap 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.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, topping the consensus estimate of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion for the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. Equities analysts forecast 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. Stockholders of record on Friday, August 23rd were given a $0.82 dividend. The ex-dividend date was Friday, August 23rd. This represents a $3.28 annualized dividend and a dividend yield of 2.87%. iA Financial’s payout ratio is 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.