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

iA Financial (TSE:IAG) had its target price raised by CIBC from C$144.00 to C$149.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 14.47% from the stock’s previous close.

IAG has been the subject of a number of other research reports. TD Securities boosted their price target on iA Financial from C$143.00 to C$146.00 and gave the stock a “buy” rating in a research report on Wednesday. Cormark upped their price objective on iA Financial from C$127.00 to C$130.00 in a report on Wednesday, November 6th. Royal Bank of Canada upped their price objective on iA Financial from C$137.00 to C$141.00 and gave the company a “sector perform” rating in a report on Thursday. Scotiabank lowered iA Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets boosted their target price on iA Financial from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$140.63.

iA Financial Price Performance

TSE:IAG traded down C$3.53 during midday trading on Thursday, reaching C$130.17. 165,944 shares of the company traded hands, compared to its average volume of 199,794. iA Financial has a twelve month low of C$80.95 and a twelve month high of C$141.88. The firm has a market capitalization of C$12.21 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a fifty day moving average price of C$131.86 and a 200 day moving average price of C$119.78.

Insider Buying and Selling at iA Financial

In related news, Senior Officer Alain Bergeron sold 2,750 shares of iA Financial stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of C$133.64, for a total value of C$367,515.78. Also, Director Denis Ricard sold 5,000 shares of iA Financial stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of C$137.00, for a total transaction of C$685,000.00. In the last quarter, insiders sold 11,010 shares of company stock worth $1,489,142. Insiders own 0.09% of the company’s stock.

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.