iA Financial (TSE:IAG) Hits New 12-Month High After Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG)’s share price hit a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from C$168.00 to C$198.52. Scotiabank currently has a sector perform rating on the stock. iA Financial traded as high as C$206.84 and last traded at C$206.84, with a volume of 75691 shares. The stock had previously closed at C$203.32.

A number of other equities analysts also recently weighed in on the company. TD Securities downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Desjardins increased their price target on shares of iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a research note on Friday, April 17th. TD downgraded shares of iA Financial from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$193.00 to C$190.00 in a research report on Wednesday, May 6th. National Bank Financial lowered their price target on shares of iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. Finally, Scotia decreased their price target on shares of iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Nine investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of C$183.17.

Insider Buying and Selling at iA Financial

In other news, insider Renée Laflamme sold 12,500 shares of iA Financial stock in a transaction dated Friday, June 26th. The stock was sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the sale, the insider directly owned 11,645 shares of the company’s stock, valued at approximately C$2,245,272.45. This trade represents a 51.77% decrease in their ownership of the stock. Also, insider Pierre Miron sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of C$174.90, for a total transaction of C$2,623,500.00. Following the sale, the insider directly owned 4,900 shares in the company, valued at C$857,010. The trade was a 75.38% decrease in their ownership of the stock. Over the last three months, insiders sold 39,500 shares of company stock worth $7,156,765. 0.09% of the stock is currently owned by insiders.

iA Financial Stock Performance

The stock has a fifty day simple moving average of C$184.35 and a two-hundred day simple moving average of C$171.74. The firm has a market capitalization of C$18.80 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.26 and a beta of 0.91. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17.

iA Financial (TSE:IAG) last released its earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. The company had revenue of C$2.74 billion for the quarter. On average, research analysts predict that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

iA Financial Company Profile

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). To learn more about iA Financial Group, you can sign up for our newsletter on our website at ia.ca. iA Financial Group is a business name and trademark of iA Financial Corporation Inc