Industrial Alliance Insur. & Fin. Ser. (IAG) Given Average Rating of “Buy” by Brokerages

Shares of Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) have earned an average rating of “Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$62.67.

Several equities analysts recently commented on IAG shares. Scotiabank cut their target price on shares of Industrial Alliance Insur. & Fin. Ser. from C$62.00 to C$60.00 and set a “sector perform” rating for the company in a research note on Friday, May 11th. TD Securities cut their target price on shares of Industrial Alliance Insur. & Fin. Ser. from C$67.00 to C$66.00 and set a “buy” rating for the company in a research note on Friday, May 11th. Canaccord Genuity set a C$60.00 target price on shares of Industrial Alliance Insur. & Fin. Ser. and gave the company a “buy” rating in a research note on Tuesday, July 24th. BMO Capital Markets upgraded shares of Industrial Alliance Insur. & Fin. Ser. from a “market perform” rating to an “outperform” rating and upped their target price for the company from C$60.00 to C$65.00 in a research note on Friday, August 3rd. Finally, National Bank Financial cut their target price on shares of Industrial Alliance Insur. & Fin. Ser. from C$66.00 to C$62.00 and set a “sector perform” rating for the company in a research note on Friday, August 3rd.

In other Industrial Alliance Insur. & Fin. Ser. news, insider Renée Laflamme acquired 922 shares of the company’s stock in a transaction dated Thursday, August 23rd. The stock was bought at an average price of C$54.32 per share, for a total transaction of C$50,083.04. Also, insider Michel Tremblay sold 2,000 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of C$53.89, for a total transaction of C$107,780.00. In the last 90 days, insiders sold 5,000 shares of company stock valued at $267,880.

TSE:IAG traded up C$0.40 during trading hours on Wednesday, hitting C$54.10. 72,304 shares of the company traded hands, compared to its average volume of 206,941. Industrial Alliance Insur. & Fin. Ser. has a twelve month low of C$48.67 and a twelve month high of C$62.01.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Monday, September 17th will be paid a $0.415 dividend. This is a boost from Industrial Alliance Insur. & Fin. Ser.’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.07%.

Industrial Alliance Insur. & Fin. Ser. Company Profile

Industrial Alliance Insurance and Financial Services Inc, doing business as, iA Financial Group, primarily provides various life and health insurance products in Canada. The company operates through four segments: Individual Insurance, Individual Wealth Management, Group Insurance, and Group Savings and Retirement.

Further Reading: Book Value Per Share – BVPS

Analyst Recommendations for Industrial Alliance Insur. & Fin. Ser. (TSE:IAG)

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