Insider Selling: Industrial Alliance Insur. & Fin. Ser. (IAG) Insider Sells 1,000 Shares of Stock

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) insider Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of C$53.50, for a total value of C$53,500.00.

Michael Lee Stickney also recently made the following trade(s):

  • On Monday, June 4th, Michael Lee Stickney sold 1,000 shares of Industrial Alliance Insur. & Fin. Ser. stock. The shares were sold at an average price of C$53.50, for a total value of C$53,500.00.
  • On Thursday, May 24th, Michael Lee Stickney sold 1,000 shares of Industrial Alliance Insur. & Fin. Ser. stock. The shares were sold at an average price of C$53.50, for a total value of C$53,500.00.

Shares of Industrial Alliance Insur. & Fin. Ser. traded down C$0.08, hitting C$53.09, during mid-day trading on Friday, according to Marketbeat Ratings. 71,008 shares of the stock traded hands, compared to its average volume of 211,090. Industrial Alliance Insur. & Fin. Ser. has a twelve month low of C$48.67 and a twelve month high of C$62.01.

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) last released its quarterly earnings data on Thursday, May 10th. The company reported C$1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of C$1.21 by C$0.11. Industrial Alliance Insur. & Fin. Ser. had a return on equity of 11.25% and a net margin of 3.75%. The company had revenue of C$2.57 billion for the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Monday, September 17th will be issued a dividend of $0.415 per share. This is an increase from Industrial Alliance Insur. & Fin. Ser.’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $1.66 annualized dividend and a dividend yield of 3.13%.

A number of equities research analysts have weighed in on IAG shares. TD Securities reduced their target price on Industrial Alliance Insur. & Fin. Ser. from C$67.00 to C$66.00 and set a “buy” rating on the stock in a report on Friday, May 11th. Desjardins set a C$60.00 target price on Industrial Alliance Insur. & Fin. Ser. in a report on Thursday, April 12th. Scotiabank reduced their target price on Industrial Alliance Insur. & Fin. Ser. from C$62.00 to C$60.00 and set a “sector perform” rating on the stock in a report on Friday, May 11th. National Bank Financial reduced their target price on Industrial Alliance Insur. & Fin. Ser. from C$66.00 to C$62.00 and set a “sector perform” rating on the stock in a report on Friday, August 3rd. Finally, BMO Capital Markets raised Industrial Alliance Insur. & Fin. Ser. from a “market perform” rating to an “outperform” rating and raised their target price for the company from C$60.00 to C$65.00 in a report on Friday, August 3rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of C$62.67.

Industrial Alliance Insur. & Fin. Ser. Company Profile

Industrial Alliance Insurance and Financial Services Inc, doing business as, iA Financial Group, primarily provides various life and health insurance products in Canada. The company operates through four segments: Individual Insurance, Individual Wealth Management, Group Insurance, and Group Savings and Retirement.

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Insider Buying and Selling by Quarter for Industrial Alliance Insur. & Fin. Ser. (TSE:IAG)

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