Indstrl Alliance Ins was Upgraded to a Hold Rating at Credit Suisse

By Jason Carr

Indstrl Alliance Ins (TSX: IAG), the Financial sector company, has received a rating update from a Wall Street analyst on May 12. The company received a Hold on May 12 from Credit Suisse’s analyst Nick Stogdill, with a C$57 price target.

Stogdill has an average return of 9.8% when recommending Indstrl Alliance Ins.

According to TipRanks.com, Stogdill is ranked #3061 out of 4566 analysts.

Currently, the analyst consensus on Indstrl Alliance Ins is Hold and the average price target is C$59.83, representing a 18.7% upside.

In a report issued on May 12, Scotiabank also downgraded the stock to Hold with a C$60 price target.

Indstrl Alliance Ins’ market cap is currently C$5.57B and has a P/E ratio of 10.

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, and Group Savings and Retirement. The Individual Insurance segment refers to life, health, disability, and mortgage insurance products. The Individual Wealth Management segment offers individual products and services for savings plans, retirement funds, and segregated funds, in addition to securities brokerage, trust operations and mutual funds. The Group Insurance segment offers life, health, accident death, and dismemberment, as well as dental care, and short and long-term disability insurance products. The Group Savings and Retirement segment provides products and services for savings plans, retirement funds, and segregated funds. The company was founded in 1892 and is headquartered in Québec, Canada.

The company’s shares closed last Wednesday at $50.40.