BMO Capital Markets Issues Positive Forecast for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its price objective raised by BMO Capital Markets from C$126.00 to C$140.00 in a report released on Thursday,BayStreet.CA reports.

IAG has been the topic of several other reports. National Bank Financial lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. National Bankshares lifted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday, November 6th. CIBC lifted their target price on shares of iA Financial from C$120.00 to C$133.00 in a report on Thursday. Royal Bank of Canada downgraded shares of iA Financial from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from C$105.00 to C$137.00 in a report on Thursday. Finally, TD Securities lifted their target price on shares of iA Financial from C$132.00 to C$135.00 in a report on Wednesday, November 6th. Four investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$128.50.

iA Financial Trading Down 1.8 %

Shares of TSE: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 quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. The company’s fifty day simple moving average is C$112.36 and its 200 day simple moving average is C$97.36. The firm has a market cap of C$12.18 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 1.26 and a beta of 1.13.

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 given a $0.90 dividend. The ex-dividend date is Friday, November 22nd. This is a boost from iA Financial’s previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a dividend yield of 2.81%. iA Financial’s payout ratio is presently 43.91%.

Insider Activity

In related news, Senior Officer Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. In other news, Director Denis Ricard sold 7,200 shares of the firm’s 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. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. Corporate 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.