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

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

IAG has been the subject of a number of other reports. Cormark raised their price target on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday. National Bankshares raised their price target on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday. Royal Bank of Canada lowered shares of iA Financial from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$105.00 to C$137.00 in a research report on Thursday. TD Securities raised their price target on shares of iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. Finally, Cibc World Mkts raised shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Four 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$128.50.

iA Financial Stock Performance

IAG opened at C$127.99 on Thursday. iA Financial has a 12-month low of C$80.95 and a 12-month high of C$134.29. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39. The firm has a market capitalization of C$12.18 billion, a PE ratio of 17.13, a P/E/G ratio of 1.26 and a beta of 1.13. The firm has a 50 day moving average of C$112.36 and a two-hundred day moving average of C$97.25.

iA Financial Increases Dividend

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

Insider Activity

In related news, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total value of C$943,200.00. In related news, Senior Officer Michael Lee Stickney sold 1,000 shares of iA Financial stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total value of C$130,600.00. Also, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total transaction of C$943,200.00. 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.