iA Financial (TSE:IAG) Cut to Sector Perform at Royal Bank of Canada

iA Financial (TSE:IAG) was downgraded by investment analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$137.00 target price on the stock, up from their previous target price of C$105.00. Royal Bank of Canada’s price objective points to a potential upside of 4.69% from the company’s current price.

Other analysts have also recently issued reports about the stock. National Bank Financial cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. CIBC boosted their target price on iA Financial from C$106.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Cormark raised their price target on iA Financial from C$127.00 to C$130.00 in a report on Wednesday. Finally, BMO Capital Markets boosted their price objective on iA Financial from C$102.00 to C$111.00 in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$128.50.

iA Financial Stock Performance

Shares of iA Financial stock traded down C$2.79 during trading hours on Thursday, reaching C$130.86. The company had a trading volume of 256,433 shares, compared to its average volume of 282,960. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. iA Financial has a one year low of C$80.95 and a one year high of C$134.29. The firm has a market cap of C$12.45 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The business has a fifty day simple moving average of C$111.27 and a 200 day simple moving average of C$96.70.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.58 by C$0.17. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. The firm had revenue of C$1.64 billion for the quarter. On average, analysts anticipate that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

iA Financial Company Profile

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.