Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAGGet Free Report) had its target price lifted by stock analysts at Canadian Imperial Bank of Commerce from C$208.00 to C$220.00 in a report released on Thursday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective would suggest a potential upside of 3.10% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. TD boosted their target price on iA Financial from C$214.00 to C$218.00 and gave the stock a “hold” rating in a report on Wednesday. TD Securities cut iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. National Bank Financial boosted their price objective on shares of iA Financial from C$205.00 to C$216.00 and gave the company a “sector perform” rating in a research report on Wednesday. Desjardins increased their target price on shares of iA Financial from C$205.00 to C$220.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Scotia raised their price target on iA Financial from C$198.52 to C$223.00 and gave the company a “sector perform” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$213.61.

View Our Latest Research Report on IAG

iA Financial Stock Up 0.2%

TSE IAG traded up C$0.43 during trading hours on Thursday, reaching C$213.38. 238,746 shares of the company’s stock traded hands, compared to its average volume of 340,104. The firm has a market cap of C$19.05 billion, a PE ratio of 19.76, a PEG ratio of 1.26 and a beta of 0.92. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17. iA Financial has a 52-week low of C$140.34 and a 52-week high of C$223.72. The firm has a 50-day simple moving average of C$194.37 and a 200 day simple moving average of C$174.48.

iA Financial (TSE:IAGGet Free Report) last released its earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. Sell-side analysts anticipate that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insider Transactions at iA Financial

In other iA Financial news, insider Renée Laflamme sold 12,500 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$192.81, for a total value of C$2,410,125.00. Following the transaction, the insider owned 11,645 shares of the company’s stock, valued at C$2,245,272.45. This represents a 51.77% decrease in their position. Also, insider Pierre Miron sold 15,000 shares of iA Financial stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the sale, the insider owned 4,900 shares of the company’s stock, valued at approximately C$857,010. This trade represents a 75.38% decrease in their ownership of the stock. In the last quarter, insiders sold 39,500 shares of company stock worth $7,156,765. 0.09% of the stock is currently owned by insiders.

About iA Financial

(Get Free Report)

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). To learn more about iA Financial Group, you can sign up for our newsletter on our website at ia.ca. iA Financial Group is a business name and trademark of iA Financial Corporation Inc

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Analyst Recommendations for iA Financial (TSE:IAG)

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