iA Financial (TSE:IAG) Cut to Sector Perform at Scotiabank

iA Financial (TSE:IAG) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued on Wednesday,BayStreet.CA reports. They currently have a C$188.00 target price on the stock. Scotiabank’s target price indicates a potential upside of 25.81% from the company’s current price.

Several other research firms have also commented on IAG. Royal Bank Of Canada set a C$167.00 price target on shares of iA Financial and gave the company a “sector perform” rating in a research report on Monday, January 19th. BMO Capital Markets upped their target price on iA Financial from C$170.00 to C$175.00 in a research note on Thursday, November 6th. Canadian Imperial Bank of Commerce downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. TD Securities boosted their price target on iA Financial from C$178.00 to C$192.00 in a report on Wednesday, January 14th. Finally, National Bank Financial decreased their price objective on iA Financial from C$190.00 to C$181.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$178.14.

iA Financial Stock Down 12.1%

Shares of IAG traded down C$20.63 on Wednesday, reaching C$149.43. The stock had a trading volume of 882,276 shares, compared to its average volume of 314,609. iA Financial has a twelve month low of C$115.21 and a twelve month high of C$182.99. The firm has a market capitalization of C$13.77 billion, a PE ratio of 12.84, a PEG ratio of 1.26 and a beta of 1.02. The firm has a 50-day moving average of C$174.07 and a 200 day moving average of C$163.03.

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

Insiders Place Their Bets

In other iA Financial news, Director Denis Ricard sold 3,000 shares of iA Financial stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$175.25, for a total value of C$525,750.00. Following the transaction, the director owned 50,000 shares in the company, valued at C$8,762,500. This trade represents a 5.66% decrease in their position. 0.09% of the stock is currently owned by corporate insiders.

iA Financial Company Profile

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.