BMO Capital Markets Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAGFree Report) had its price target lifted by BMO Capital Markets from C$126.00 to C$140.00 in a research report released on Thursday,BayStreet.CA reports.

A number of other brokerages have also commented on IAG. Scotiabank increased their price target on iA Financial from C$126.00 to C$143.00 in a research note on Thursday. TD Securities boosted their target price on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Royal Bank of Canada cut shares of iA Financial from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$105.00 to C$137.00 in a research report on Thursday. Finally, Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, iA Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$128.50.

Read Our Latest Stock Report on IAG

iA Financial Stock Performance

TSE:IAG traded down C$2.19 on Thursday, hitting C$128.20. The stock had a trading volume of 117,378 shares, compared to its average volume of 283,610. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. The stock has a market cap of C$12.20 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The business’s 50-day simple moving average is C$111.83 and its two-hundred day simple moving average is C$97.04. iA Financial has a 52-week low of C$80.95 and a 52-week high of C$134.29.

iA Financial (TSE:IAGGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, topping the consensus estimate of C$2.58 by C$0.17. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. The firm had revenue of C$1.64 billion during the quarter. As a group, research analysts predict that iA Financial will post 11.6187564 earnings per share for the current year.

iA Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be given a dividend of $0.90 per share. This is a boost from iA Financial’s previous quarterly dividend of $0.82. The ex-dividend date is Friday, November 22nd. This represents a $3.60 dividend on an annualized basis and a yield of 2.81%. iA Financial’s dividend payout ratio is presently 43.91%.

Insiders Place Their Bets

In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total value of C$130,600.00. Corporate insiders own 0.09% of the company’s stock.

About iA Financial

(Get Free Report)

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.

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Analyst Recommendations for iA Financial (TSE:IAG)

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