iA Financial (TSE:IAG) Sets New 1-Year High – Here’s What Happened

Shares of iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$177.94 and last traded at C$177.22, with a volume of 63603 shares. The stock had previously closed at C$176.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IAG shares. CIBC upped their target price on iA Financial from C$150.00 to C$173.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. National Bankshares upped their price objective on shares of iA Financial from C$146.00 to C$162.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. BMO Capital Markets increased their price objective on shares of iA Financial from C$170.00 to C$175.00 in a report on Thursday, November 6th. Royal Bank Of Canada boosted their target price on shares of iA Financial from C$151.00 to C$167.00 in a report on Thursday, November 6th. Finally, Desjardins increased their price target on shares of iA Financial from C$149.00 to C$163.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$165.43.

iA Financial Stock Performance

The firm has a fifty day moving average of C$164.72 and a 200-day moving average of C$153.43. The stock has a market capitalization of C$16.36 billion, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.26 and a beta of 0.90.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$3.47 EPS for the quarter. iA Financial had a return on equity of 13.73% and a net margin of 6.85%.The firm had revenue of C$6.67 billion for the quarter. On average, analysts predict that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

Insider Buying and Selling at iA Financial

In related news, insider Philippe Sarfati sold 2,318 shares of the firm’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of C$164.30, for a total transaction of C$380,847.40. Also, Director Denis Ricard sold 3,000 shares of iA Financial stock in a transaction on Friday, December 12th. The stock was sold at an average price of C$175.25, for a total transaction of C$525,750.00. Following the sale, the director directly owned 50,000 shares in the company, valued at C$8,762,500. This trade represents a 5.66% decrease in their position. Insiders sold 6,750 shares of company stock valued at $1,141,931 over the last 90 days. Insiders own 0.09% of the company’s stock.

About iA Financial

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.