CIBC Upgrades iA Financial (TSE:IAG) to Outperform

iA Financial (TSE:IAG) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research report issued on Thursday,BayStreet.CA reports. The firm presently has a C$184.00 price target on the stock, up from their prior price target of C$175.00. CIBC’s price target would indicate a potential upside of 2.41% from the company’s current price.

A number of other research firms have also weighed in on IAG. TD Securities increased their target price on 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 upped their price target on shares of iA Financial from C$146.00 to C$162.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. BMO Capital Markets lifted their price objective on shares of iA Financial from C$170.00 to C$175.00 in a report on Thursday, November 6th. Royal Bank Of Canada boosted their price objective on shares of iA Financial from C$151.00 to C$167.00 in a research report on Thursday, November 6th. Finally, Desjardins raised their target price on shares of iA Financial from C$149.00 to C$163.00 and gave the stock a “hold” rating in a research report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, iA Financial has a consensus rating of “Moderate Buy” and a consensus target price of C$167.00.

iA Financial Price Performance

Shares of TSE:IAG opened at C$179.67 on Thursday. The firm has a market capitalization of C$16.56 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.03. The business has a 50 day simple moving average of C$170.90 and a two-hundred day simple moving average of C$157.69. iA Financial has a 1 year low of C$115.21 and a 1 year high of C$182.11.

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

Insider Transactions at iA Financial

In other news, insider Philippe Sarfati sold 2,318 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of C$164.30, for a total value of C$380,847.40. Also, Director Denis Ricard sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of C$175.25, for a total transaction of C$525,750.00. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at C$8,762,500. The trade was a 5.66% decrease in their position. Insiders have sold a total of 6,750 shares of company stock worth $1,141,931 in the last three months. Insiders own 0.09% of the company’s stock.

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.