11:52:12 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Industrial Alliance Insurance and Financial Services Inc
Symbol IAG
Shares Issued 106,557,610
Close 2017-11-09 C$ 60.98
Market Cap C$ 6,497,883,058
Recent Sedar Documents

Globe says Industrial Alliance elevated to "neutral"

2017-11-10 08:16 ET - In the News

The Globe and Mail reports in its Friday edition that in the wake of a third quarter earnings beat, Credit Suisse analyst Nick Stogdill upgraded Industrial Alliance Insurance and Financial Services ($60.98) to "neutral" from "underperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Stogdill elevated his share target by $3 to $63, 44 cents above the consensus. On Wednesday, IAG posted core earnings per share of $1.35, exceeding the $1.27 estimate of both Mr. Stogdill and the Street. It was an increase of 5 per cent from the previous year. Mr. Stogdill says in a note: "Better-than-expected results reflect: Strong expected profit growth (up 16 per cent year over year), driven by Individual Insurance and Individual Wealth (partly due to HollisWealth); and Higher earnings on surplus, including real estate gains (four cents) and better results at IA Auto & Home. This was partly offset by an elevated tax rate of 23 per cent (versus 20-22-per-cent guidance) reducing EPS by two cents." Mr. Stogdill increased his 2018 and 2019 earnings-per-share estimates to $5.40 and $5.70, from $5.25 and $5.67. Mr. Stogdill says, "Interest rates and equity markets are a key risk to our estimates."

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