iA Financial (TSE:IAG) Given New C$208.00 Price Target at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on iA Financial to C$208 from C$180, implying the stock is roughly at fair value based on the current price.
• Analyst sentiment remains cautious overall: iA Financial has an average “Hold” rating from nine analysts, with an average price target of C$183.17.
• The shares recently traded near a 52-week high of C$208.38 after reporting quarterly EPS of C$3.25 and revenue of C$2.74 billion, while insiders have also been selling stock in recent months.

iA Financial (TSE:IAG - Get Free Report) had its price target raised by research analysts at Canadian Imperial Bank of Commerce from C$180.00 to C$208.00 in a report issued on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price objective would indicate a potential downside of 0.05% from the company's current price.

IAG has been the subject of a number of other research reports. Desjardins boosted their price objective on iA Financial from C$173.00 to C$174.00 and gave the stock a "hold" rating in a report on Friday, April 17th. TD downgraded iA Financial from a "buy" rating to a "hold" rating and reduced their price target for the company from C$193.00 to C$190.00 in a research note on Wednesday, May 6th. Scotia decreased their price objective on iA Financial from C$183.00 to C$168.00 and set a "sector perform" rating on the stock in a report on Thursday, May 7th. National Bank Financial lowered their price objective on iA Financial from C$181.00 to C$179.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 6th. Finally, TD Securities cut shares of iA Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of C$183.17.

iA Financial Stock Performance

Shares of TSE:IAG traded up C$4.78 on Wednesday, hitting C$208.10. The company had a trading volume of 152,845 shares, compared to its average volume of 338,586. The stock has a market cap of C$18.58 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.26 and a beta of 0.91. The stock has a 50 day moving average price of C$182.44 and a 200 day moving average price of C$171.30. iA Financial has a 1-year low of C$133.36 and a 1-year high of C$208.38. The company has a current ratio of 0.60, a quick ratio of 0.17 and a debt-to-equity ratio of 18.46.

iA Financial (TSE:IAG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. The company had revenue of C$2.74 billion during the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. Analysts expect that iA Financial will post 11.6187564 EPS for the current year.

Insider Activity

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

iA Financial Company Profile

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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