Yesterday, an analyst has provided a rating update for the Financial sector company, Indstrl Alliance Ins (TSX: IAG). Analyst Sumit Malhotra from Scotiabank rated Indstrl Alliance Ins (TSX: IAG) a Hold, setting a C$62 price target.
Malhotra has an average return of 2.2% when recommending Indstrl Alliance Ins.
According to TipRanks.com, Malhotra is ranked #262 out of 4853 analysts.
Currently, the analyst consensus on Indstrl Alliance Ins is a Strong Buy with an average price target of C$62.20.
Based on Indstrl Alliance Ins’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$2.83 billion and net profit of C$143 million. In comparison, last year the company earned revenue of C$2.56 billion and had a net profit of C$132 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 Friday at C$53.96.
