iA Financial (TSE:IAG) Raised to “Outperform” at CIBC

iA Financial (TSE:IAG) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a C$184.00 price target on the stock, up from their previous price target of C$175.00. CIBC’s price target would indicate a potential upside of 3.43% from the stock’s previous close.

Several other research analysts have also issued reports on the company. BMO Capital Markets increased their target price on iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. TD Securities increased their price target on shares of iA Financial from C$175.00 to C$178.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. National Bankshares raised their target price on shares of iA Financial from C$146.00 to C$162.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Royal Bank Of Canada lifted their price objective on iA Financial from C$151.00 to C$167.00 in a research note on Thursday, November 6th. Finally, Desjardins increased their target price on iA Financial from C$149.00 to C$163.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$167.00.

iA Financial Stock Performance

TSE:IAG traded down C$3.12 during trading hours on Thursday, reaching C$177.89. The stock had a trading volume of 158,119 shares, compared to its average volume of 216,505. The stock has a market cap of C$16.39 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 1.26 and a beta of 1.03. The stock has a 50 day simple moving average of C$170.31 and a 200 day simple moving average of C$157.30. iA Financial has a 12-month low of C$115.21 and a 12-month high of C$182.11.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$3.47 earnings per share for the quarter. The company had revenue of C$6.67 billion during the quarter. iA Financial had a return on equity of 13.73% and a net margin of 6.85%. On average, equities analysts expect that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insider Buying and Selling

In other iA Financial news, insider Philippe Sarfati sold 2,318 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of C$164.30, for a total transaction of C$380,847.40. Also, Director Denis Ricard sold 3,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$175.25, for a total transaction of C$525,750.00. Following the completion of the transaction, the director directly owned 50,000 shares in the company, valued at approximately C$8,762,500. This represents a 5.66% decrease in their position. Over the last ninety days, insiders have sold 6,750 shares of company stock worth $1,141,931. 0.09% of the stock is currently owned by corporate insiders.

About iA Financial

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.