CIBC Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAG) had its target price upped by research analysts at CIBC from C$133.00 to C$143.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 9.90% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. TD Securities raised their price target on iA Financial from C$132.00 to C$135.00 in a research note on Wednesday, November 6th. Cibc World Mkts raised iA Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. BMO Capital Markets upped their price objective on iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Scotiabank increased their target price on iA Financial from C$126.00 to C$143.00 in a research report on Thursday, November 7th. Finally, National Bankshares upped their price target on iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$129.75.

iA Financial Stock Up 1.0 %

Shares of TSE:IAG traded up C$1.31 on Wednesday, hitting C$130.12. 86,037 shares of the company traded hands, compared to its average volume of 283,916. The company has a market cap of C$12.38 billion, a PE ratio of 17.42, a PEG ratio of 1.26 and a beta of 1.13. The stock has a 50 day simple moving average of C$113.41 and a 200-day simple moving average of C$98.01. iA Financial has a 52 week low of C$80.95 and a 52 week high of C$134.29. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39.

Insiders Place Their Bets

In other iA Financial news, Senior Officer Pierre Miron sold 15,000 shares of iA Financial stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. In other iA Financial news, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total value of C$943,200.00. Also, Senior Officer Pierre Miron sold 15,000 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Insiders have sold 26,000 shares of company stock worth $3,379,016 in the last three months. Corporate insiders own 0.09% of the company’s stock.

iA Financial Company Profile

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.