CIBC Cuts iA Financial (TSE:IAG) Price Target to C$78.00

iA Financial (TSE:IAGGet Rating) had its price objective cut by stock analysts at CIBC from C$87.00 to C$78.00 in a note issued to investors on Tuesday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 13.13% from the stock’s previous close.

Several other research firms also recently weighed in on IAG. Scotiabank dropped their target price on shares of iA Financial from C$91.00 to C$90.00 in a report on Friday, January 28th. National Bankshares dropped their target price on shares of iA Financial from C$89.00 to C$88.00 in a report on Wednesday, April 20th. Canaccord Genuity Group lifted their target price on shares of iA Financial from C$89.50 to C$91.00 in a report on Friday, February 18th. Finally, BMO Capital Markets lifted their target price on shares of iA Financial from C$92.00 to C$94.00 in a report on Thursday, February 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, iA Financial presently has an average rating of “Buy” and a consensus target price of C$86.75.

Shares of IAG stock traded down C$2.76 during trading on Tuesday, hitting C$68.95. 191,465 shares of the stock traded hands, compared to its average volume of 225,477. The firm has a market capitalization of C$7.42 billion and a P/E ratio of 8.98. The company has a debt-to-equity ratio of 36.30, a current ratio of 0.94 and a quick ratio of 0.45. The firm’s fifty day moving average price is C$75.19 and its 200-day moving average price is C$75.07. iA Financial has a 52-week low of C$63.97 and a 52-week high of C$85.25.

In other iA Financial news, Senior Officer Denis Ricard sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of C$80.08, for a total value of C$800,800.00. Following the completion of the transaction, the insider now owns 44,000 shares in the company, valued at C$3,523,520.

iA Financial Company Profile (Get Rating)

iA Financial Corporation Inc, through its subsidiary, Industrial Alliance Insurance and Financial Services Inc, provides various life and health insurance products in Canada and the United States. The company operates through Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, US Operations, and Other segments.

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