iA Financial (TSE:IAG) Trading Down 10.8% – Here’s Why

iA Financial Co. Inc. (TSE:IAG) fell 10.8% during mid-day trading on Wednesday . The stock traded as low as C$151.23 and last traded at C$151.66. 326,179 shares were traded during mid-day trading, an increase of 11% from the average session volume of 293,670 shares. The stock had previously closed at C$170.06.

Wall Street Analysts Forecast Growth

IAG has been the subject of several analyst reports. TD Securities raised their price target on shares of iA Financial from C$178.00 to C$192.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada set a C$167.00 price target on iA Financial and gave the stock a “sector perform” rating in a research note on Monday, January 19th. BMO Capital Markets upped their price target on iA Financial from C$170.00 to C$175.00 in a report on Thursday, November 6th. Canadian Imperial Bank of Commerce downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Scotiabank upped their target price on shares of iA Financial from C$179.00 to C$188.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$175.86.

iA Financial Stock Performance

The company’s 50-day moving average price is C$174.07 and its 200 day moving average price is C$163.03. The stock has a market cap of C$13.75 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Tuesday, February 17th. The company reported C$3.10 earnings per share (EPS) for the quarter. The firm had revenue of C$3.23 billion during the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. On average, sell-side analysts anticipate that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Denis Ricard sold 3,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 50,000 shares of the company’s stock, valued at approximately C$8,762,500. This represents a 5.66% decrease in their ownership of the stock. Company 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.