CIBC Analysts Give Industrial Alliance Insur. & Fin. Ser. (IAG) a C$61.00 Price Target

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) has been given a C$61.00 price objective by research analysts at CIBC in a research note issued on Monday. CIBC’s price target points to a potential upside of 31.32% from the company’s previous close.

Several other equities analysts have also recently weighed in on IAG. Canaccord Genuity set a C$60.00 price objective on Industrial Alliance Insur. & Fin. Ser. and gave the stock a “buy” rating in a research report on Tuesday, July 24th. BMO Capital Markets raised Industrial Alliance Insur. & Fin. Ser. from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from C$60.00 to C$65.00 in a research report on Friday, August 3rd. National Bank Financial cut their price objective on Industrial Alliance Insur. & Fin. Ser. from C$66.00 to C$62.00 and set a “sector perform” rating for the company in a research report on Friday, August 3rd. Finally, Desjardins cut their price objective on Industrial Alliance Insur. & Fin. Ser. from C$60.00 to C$57.00 in a research report on Tuesday, October 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of C$61.89.

TSE IAG opened at C$46.45 on Monday. Industrial Alliance Insur. & Fin. Ser. has a twelve month low of C$44.58 and a twelve month high of C$62.01.

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) last posted its quarterly earnings data on Thursday, August 2nd. The company reported C$1.38 earnings per share for the quarter, topping the consensus estimate of C$1.36 by C$0.02. Industrial Alliance Insur. & Fin. Ser. had a return on equity of 11.25% and a net margin of 3.75%. The business had revenue of C$2.77 million during the quarter.

In other news, insider Renée Laflamme purchased 922 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was purchased at an average price of C$54.32 per share, with a total value of C$50,083.04. Also, insider Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of C$53.10, for a total value of C$53,100.00. In the last three months, insiders have purchased 4,122 shares of company stock valued at $216,923 and have sold 6,000 shares valued at $317,365.

Industrial Alliance Insur. & Fin. Ser. Company Profile

Industrial Alliance Insurance and Financial Services Inc, doing business as, iA Financial Group, primarily provides various life and health insurance products in Canada. The company operates through four segments: Individual Insurance, Individual Wealth Management, Group Insurance, and Group Savings and Retirement.

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Analyst Recommendations for Industrial Alliance Insur. & Fin. Ser. (TSE:IAG)

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