iA Financial (TSE:IAG) Given New C$105.00 Price Target at Royal Bank of Canada

iA Financial (TSE:IAG) had its target price increased by Royal Bank of Canada from C$102.00 to C$105.00 in a research note issued to investors on Thursday, Marketbeat reports. They currently have a moderate buy rating on the stock.

IAG has been the subject of several other research reports. Scotiabank lifted their price target on iA Financial from C$100.00 to C$110.00 in a report on Thursday. Cormark lifted their price target on iA Financial from C$103.00 to C$105.00 in a report on Friday, May 10th. BMO Capital Markets lifted their price target on iA Financial from C$102.00 to C$111.00 in a report on Thursday. CIBC upgraded iA Financial from a neutral rating to an outperform rating and boosted their target price for the stock from C$97.00 to C$100.00 in a report on Friday, May 10th. Finally, TD Securities boosted their target price 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. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of C$94.06.

iA Financial Trading Up 3.0 %

Shares of IAG stock opened at C$99.23 on Thursday. The firm has a 50-day moving average price of C$88.30 and a 200 day moving average price of C$87.83. iA Financial has a twelve month low of C$77.61 and a twelve month high of C$99.31. The company has a market capitalization of C$9.44 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.26 and a beta of 1.11. The company has a current ratio of 6.92, a quick ratio of 0.17 and a debt-to-equity ratio of 20.29.

iA Financial (TSE:IAG) last announced its earnings results on Thursday, May 9th. The company reported C$2.44 earnings per share for the quarter, beating the consensus estimate of C$2.38 by C$0.06. The firm had revenue of C$1.60 billion during the quarter. iA Financial had a net margin of 10.50% and a return on equity of 10.51%. Research analysts forecast that iA Financial will post 10.6511628 earnings per share for the current fiscal year.

iA Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Friday, August 23rd. iA Financial’s dividend payout ratio is presently 43.91%.

Insiders Place Their Bets

In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 27th. The stock was sold at an average price of C$93.42, for a total value of C$467,091.50. Following the completion of the transaction, the insider now owns 500 shares in the company, valued at approximately C$46,709.15. In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of C$91.42, for a total value of C$91,420.00. Also, Senior Officer Alain Bergeron sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 27th. The stock was sold at an average price of C$93.42, for a total value of C$467,091.50. Following the completion of the transaction, the insider now owns 500 shares of the company’s stock, valued at approximately C$46,709.15. Insiders sold a total of 31,000 shares of company stock worth $2,850,331 in the last 90 days. 0.09% of the stock is owned by company insiders.

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.