iA Financial (TSE:IAG) Cut to Hold at TD Securities

TD Securities cut shares of iA Financial (TSE:IAG) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

A number of other brokerages have also weighed in on IAG. National Bank Financial cut their price objective on iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating for the company in a research report on Wednesday. Scotia raised their price objective on iA Financial from C$174.00 to C$183.00 in a research report on Wednesday, April 29th. Desjardins raised their price objective on iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a research report on Friday, April 17th. TD lowered iA Financial from a “buy” rating to a “hold” rating and cut their price objective for the company from C$193.00 to C$190.00 in a research report on Wednesday. Finally, BMO Capital Markets cut their price objective on iA Financial from C$185.00 to C$175.00 in a research report on Thursday, February 19th. Nine investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of C$177.78.

iA Financial Trading Up 1.7%

Shares of iA Financial stock opened at C$166.09 on Wednesday. The firm has a market cap of C$15.08 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.26 and a beta of 0.92. The business has a 50-day moving average price of C$159.82 and a 200-day moving average price of C$165.80. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. iA Financial has a twelve month low of C$133.00 and a twelve month high of C$182.99.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$3.25 earnings per share for the quarter. The firm had revenue of C$2.74 billion during the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. Equities research analysts anticipate that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insider Activity

In related news, insider Ï¿½Ric Jobin purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average price of C$151.82 per share, for a total transaction of C$151,820.00. Following the completion of the transaction, the insider owned 1,941 shares in the company, valued at approximately C$294,682.62. The trade was a 106.27% increase in their position. Also, Director Denis Ricard purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average price of C$152.00 per share, with a total value of C$912,000.00. Following the transaction, the director owned 56,000 shares of the company’s stock, valued at C$8,512,000. This represents a 12.00% increase in their position. Company insiders own 0.09% of the company’s stock.

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