Canadian Imperial Bank of Commerce Issues Positive Forecast for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its target price hoisted by stock analysts at Canadian Imperial Bank of Commerce from C$208.00 to C$220.00 in a report issued on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s target price suggests a potential upside of 3.10% from the stock’s previous close.

IAG has been the subject of several other reports. Scotiabank increased their price target on shares of iA Financial from C$168.00 to C$198.52 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. TD upped their price objective on shares of iA Financial from C$214.00 to C$218.00 and gave the company a “hold” rating in a report on Wednesday. TD Securities cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. National Bank Financial upped their price target on shares of iA Financial from C$205.00 to C$216.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Royal Bank Of Canada raised their price target on shares of iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$213.61.

iA Financial Stock Up 0.2%

TSE:IAG traded up C$0.43 during mid-day trading on Thursday, reaching C$213.38. The company’s stock had a trading volume of 238,746 shares, compared to its average volume of 340,104. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. iA Financial has a 1 year low of C$140.34 and a 1 year high of C$223.72. The stock has a fifty day moving average of C$194.37 and a 200-day moving average of C$174.48. The firm has a market capitalization of C$19.05 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92.

iA Financial (TSE:IAG) last posted its earnings results on Tuesday, August 4th. The company reported C$3.68 EPS for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. Equities research analysts forecast that iA Financial will post 11.6187564 earnings per share for the current year.

Insider Buying and Selling at iA Financial

In other iA Financial news, insider Pierre Miron sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the sale, the insider owned 4,900 shares in the company, valued at approximately C$857,010. This represents a 75.38% decrease in their position. Also, insider Alain Bergeron sold 1,300 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of C$189.20, for a total transaction of C$245,960.00. Over the last ninety days, insiders sold 39,500 shares of company stock valued at $7,156,765. 0.09% of the stock is owned by company insiders.

About iA Financial

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). To learn more about iA Financial Group, you can sign up for our newsletter on our website at ia.ca. iA Financial Group is a business name and trademark of iA Financial Corporation Inc