Industrial Alliance Insur. & Fin. Ser. (IAG) Sets New 12-Month Low at $21.55

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as C$21.55 and last traded at C$52.56, with a volume of 46797 shares changing hands. The stock had previously closed at C$53.00.

A number of analysts have recently issued reports on the company. National Bank Financial dropped their target price on Industrial Alliance Insur. & Fin. Ser. from C$66.00 to C$62.00 and set a “sector perform” rating on the stock in a research report on Friday, August 3rd. BMO Capital Markets raised Industrial Alliance Insur. & Fin. Ser. from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from C$60.00 to C$65.00 in a research report on Friday, August 3rd. Finally, Canaccord Genuity set a C$60.00 target price on Industrial Alliance Insur. & Fin. Ser. and gave the stock a “buy” rating in a research report on Tuesday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Industrial Alliance Insur. & Fin. Ser. currently has an average rating of “Buy” and a consensus target price of C$62.67.

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

The company also recently declared a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Monday, September 17th were paid a $0.415 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 3.17%. This is an increase from Industrial Alliance Insur. & Fin. Ser.’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, August 23rd.

In other news, Director Yvon Charest purchased 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The stock was acquired at an average cost of C$52.70 per share, for a total transaction of C$63,240.00. Also, insider Renée Laflamme purchased 922 shares of the firm’s stock in a transaction that occurred 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. Over the last quarter, insiders purchased 4,122 shares of company stock valued at $216,923 and sold 3,500 shares valued at $187,390.

Industrial Alliance Insur. & Fin. Ser. Company Profile (TSE:IAG)

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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