iA Financial (TSE:IAG) Price Target Increased to C$88.00 by Analysts at Royal Bank of Canada

iA Financial (TSE:IAG – Get Rating) had its target price upped by investment analysts at Royal Bank of Canada from C$86.00 to C$88.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 24.89% from the company’s previous close.

A number of other research firms have also recently commented on IAG. TD Securities increased their price target on shares of iA Financial from C$81.00 to C$84.00 and gave the company a “buy” rating in a report on Friday. Scotiabank lowered their price objective on shares of iA Financial from C$92.00 to C$85.00 in a research report on Monday, May 2nd. CIBC lowered their price objective on shares of iA Financial from C$75.00 to C$73.00 in a research report on Friday, July 22nd. National Bankshares increased their price objective on shares of iA Financial from C$78.00 to C$81.00 and gave the company an “outperform” rating in a research report on Friday. Finally, BMO Capital Markets increased their price objective on shares of iA Financial from C$87.00 to C$88.00 in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, iA Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$84.45.

iA Financial Price Performance

Shares of IAG opened at C$70.46 on Friday. The firm’s 50-day simple moving average is C$63.88 and its two-hundred day simple moving average is C$71.09. iA Financial has a fifty-two week low of C$58.70 and a fifty-two week high of C$85.25. The company has a debt-to-equity ratio of 43.05, a quick ratio of 0.20 and a current ratio of 0.46. The stock has a market cap of C$7.50 billion and a PE ratio of 9.41.

Insider Activity

In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of C$65.03, for a total transaction of C$65,025.00. Following the sale, the insider now directly owns 42,300 shares in the company, valued at approximately C$2,750,557.50.

About iA Financial

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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.