Industrial Alliance Insur. & Fin. Ser. (TSE:IAG)’s share price hit a new 52-week low during mid-day 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. The stock had previously closed at C$53.00.

Several equities analysts have recently issued reports on IAG shares. National Bank Financial reduced 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. BMO Capital Markets upgraded 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. 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Industrial Alliance Insur. & Fin. Ser. currently has an average rating of “Buy” and an average target price of C$62.67.

Industrial Alliance Insur. & Fin. Ser. (TSE:IAG) last issued its quarterly earnings data on Thursday, August 2nd. The company reported C$1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Monday, September 17th were issued a dividend of $0.415 per share. This is a boost from Industrial Alliance Insur. & Fin. Ser.’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, August 23rd. This represents a $1.66 annualized dividend and a yield of 3.17%.

In related news, insider Michael Lee Stickney sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of C$53.50, for a total transaction of C$53,500.00. Also, insider Denis Ricard bought 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were purchased at an average cost of C$51.80 per share, for a total transaction of C$103,600.00. In the last three months, insiders have purchased 4,122 shares of company stock worth $216,923 and have sold 3,500 shares worth $187,390.

About Industrial Alliance Insur. & Fin. Ser. (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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