iA Financial (TSE:IAG) Upgraded at Cibc World Mkts

Cibc World Mkts upgraded shares of iA Financial (TSE:IAG) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

IAG has been the subject of a number of other reports. TD Securities lifted their price target on iA Financial from C$110.00 to C$114.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada boosted their target price on iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a report on Thursday, August 8th. National Bankshares downgraded iA Financial from an “outperform” rating to a “sector perform” rating and upped their price objective for the company from C$102.00 to C$118.00 in a research note on Friday, October 25th. CIBC upped their price objective on iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, BMO Capital Markets boosted their target price on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, iA Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$111.00.

iA Financial Trading Up 0.7 %

IAG opened at C$114.19 on Wednesday. iA Financial has a 12 month low of C$80.95 and a 12 month high of C$119.25. The stock has a market capitalization of C$10.86 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The business has a fifty day moving average price of C$110.06 and a 200 day moving average price of C$95.83.

iA Financial (TSE:IAG) last released its earnings results 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. Sell-side analysts expect that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

iA Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 23rd were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 23rd. iA Financial’s payout ratio is currently 43.91%.

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.