iA Financial (TSE:IAG) Upgraded to Strong-Buy 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 research report report published on Wednesday morning, Zacks.com reports.

IAG has been the subject of several other reports. CIBC raised their target price on iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada raised their target price on iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research note on Thursday, August 8th. National Bankshares downgraded iA Financial from an “outperform” rating to a “sector perform” rating and raised their target price for the company from C$102.00 to C$118.00 in a research note on Friday, October 25th. Scotiabank raised their target price on iA Financial from C$110.00 to C$126.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, National Bank Financial downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, iA Financial has an average rating of “Moderate Buy” and a consensus price target of C$111.00.

iA Financial Trading Up 0.7 %

Shares of IAG opened at C$114.19 on Wednesday. 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$10.86 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The stock’s fifty day simple moving average is C$110.06 and its 200 day simple moving average is C$95.83. iA Financial has a twelve month low of C$80.95 and a twelve month high of C$119.25.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, beating 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. On average, equities research analysts forecast that iA Financial will post 11.6187564 earnings per share for the current year.

iA Financial Announces Dividend

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

About iA Financial

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.