Industrial Alliance Insur. & Fin. Ser. (IAG) Upgraded to “Outperform” by Royal Bank of Canada

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Friday. The firm presently has a C$66.00 price target on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 35.89% from the company’s previous close.

IAG has been the topic of several other research reports. CIBC set a C$61.00 price objective on shares of Industrial Alliance Insur. & Fin. Ser. in a report on Monday, October 29th. Desjardins lowered their price objective on shares of Industrial Alliance Insur. & Fin. Ser. from C$60.00 to C$57.00 in a report on Tuesday, October 16th. Canaccord Genuity set a C$60.00 price objective on shares of Industrial Alliance Insur. & Fin. Ser. and gave the stock a “buy” rating in a report on Tuesday, July 24th. BMO Capital Markets upgraded shares of Industrial Alliance Insur. & Fin. Ser. from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from C$60.00 to C$65.00 in a report on Friday, August 3rd. Finally, National Bank Financial lowered their price objective on shares of Industrial Alliance Insur. & Fin. Ser. from C$62.00 to C$58.00 and set a “sector perform” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Industrial Alliance Insur. & Fin. Ser. presently has an average rating of “Buy” and an average target price of C$61.63.

Industrial Alliance Insur. & Fin. Ser. stock opened at C$48.57 on Friday. 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 12-month low of C$44.58 and a 12-month high of C$62.01.

In other news, Director Yvon Charest bought 1,200 shares of Industrial Alliance Insur. & Fin. Ser. stock in a transaction dated Wednesday, September 19th. The stock was purchased at an average price of C$52.70 per share, for a total transaction of C$63,240.00. Also, insider Renée Laflamme bought 922 shares of Industrial Alliance Insur. & Fin. Ser. stock in a transaction dated 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. In the last 90 days, insiders have acquired 4,122 shares of company stock worth $216,923 and have sold 5,000 shares worth $263,865.

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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