National Bank Financial Lowers Industrial Alliance Insur. & Fin. Ser. (IAG) Price Target to C$58.00

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) had its price objective lowered by National Bank Financial from C$62.00 to C$58.00 in a research report report published on Thursday morning. National Bank Financial currently has a sector perform rating on the stock.

Several other analysts have also recently issued reports on IAG. BMO Capital Markets raised Industrial Alliance Insur. & Fin. Ser. from a market perform rating to an outperform rating and increased their target price for the company from C$60.00 to C$65.00 in a research report on Friday, August 3rd. Desjardins reissued a buy rating on shares of Industrial Alliance Insur. & Fin. Ser. in a research report on Monday, October 15th. CIBC set a C$61.00 price objective on Industrial Alliance Insur. & Fin. Ser. in a research report on Monday, October 29th. Finally, 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of C$61.63.

TSE IAG traded up C$0.37 during midday trading on Thursday, hitting C$48.57. 405,930 shares of the company traded hands, compared to its average volume of 209,671. The company has a quick ratio of 0.22, a current ratio of 0.43 and a debt-to-equity ratio of 39.56. Industrial Alliance Insur. & Fin. Ser. has a 52 week low of C$44.58 and a 52 week high of C$62.01.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 17th will be given a $0.415 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.42%. Industrial Alliance Insur. & Fin. Ser.’s payout ratio is 29.22%.

In other Industrial Alliance Insur. & Fin. Ser. news, insider Clément Gignac sold 2,500 shares of Industrial Alliance Insur. & Fin. Ser. stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of C$51.99, for a total transaction of C$129,975.00. Also, insider Denis Ricard purchased 2,000 shares of the stock in a transaction on Thursday, September 13th. The shares were purchased at an average cost of C$51.80 per share, with a total value of C$103,600.00. In the last three months, insiders bought 4,122 shares of company stock valued at $216,923 and sold 5,000 shares valued at $263,865.

About Industrial Alliance Insur. & Fin. Ser.

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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