Scotia Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAG) had its target price hoisted by research analysts at Scotia from C$198.52 to C$223.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotia’s price target indicates a potential upside of 4.51% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Royal Bank Of Canada lifted their target price on shares of iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a research note on Thursday. Scotiabank raised their price objective on shares of iA Financial from C$168.00 to C$198.52 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Canadian Imperial Bank of Commerce boosted their target price on shares of iA Financial from C$180.00 to C$208.00 in a report on Wednesday, July 15th. BMO Capital Markets increased their target price on iA Financial from C$215.00 to C$225.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Desjardins raised their price target on iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$213.61.

iA Financial Stock Performance

Shares of TSE IAG traded up C$0.43 during trading on Thursday, reaching C$213.38. 238,746 shares of the stock traded hands, compared to its average volume of 340,104. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17. The stock has a market capitalization of C$19.05 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. iA Financial has a 52-week low of C$140.34 and a 52-week high of C$223.72. The company has a 50-day moving average of C$194.37 and a 200-day moving average of C$174.48.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. Analysts forecast that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insider Buying and Selling at iA Financial

In other news, insider Renée Laflamme sold 12,500 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of C$192.81, for a total value of C$2,410,125.00. Following the transaction, the insider owned 11,645 shares of the company’s stock, valued at approximately C$2,245,272.45. This represents a 51.77% decrease in their ownership of the stock. Also, insider Alain Bergeron sold 1,300 shares of iA Financial stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of C$189.20, for a total value of C$245,960.00. Insiders sold a total of 39,500 shares of company stock valued at $7,156,765 in the last three months. Company insiders own 0.09% of the company’s stock.

About iA Financial

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