The Financial sector company, Indstrl Alliance Ins (IAG), has received a rating update from a Wall Street analyst today. National Bank’s analyst Gabriel Dechaine reiterates their Hold rating on the shares, with a C$58 price target.
According to TipRanks.com, Dechaine is a 4-star analyst with an average return of 10.3% and a 71.3% success rate. Dechaine covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and Toronto Dominion Bank.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Indstrl Alliance Ins with a C$59 average price target, which is a 21.8% upside from current levels. In a report issued on October 31, Scotiabank also reiterated a Hold rating on the stock with a C$57 price target.
Based on Indstrl Alliance Ins’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$2.63 billion and net profit of C$165 million. In comparison, last year the company earned revenue of C$2.27 billion and had a net profit of C$149 million.
Industrial Alliance Insurance & Financial Services, Inc. engages in the provision of insurance and investment solutions. It operates through the following segments: Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and Other.
The company’s shares closed on Thursday at C$48.44.