Scotia Issues Positive Forecast for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its target price hoisted by Scotia from C$174.00 to C$183.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. Scotia’s price objective would indicate a potential upside of 5.08% from the stock’s current price.

A number of other research firms have also recently commented on IAG. Desjardins increased their target price on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a report on Friday, April 17th. Canadian Imperial Bank of Commerce cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. National Bank Financial set a C$181.00 price objective on shares of iA Financial and gave the company a “sector perform” rating in a report on Friday, April 24th. TD raised their price objective on shares of iA Financial from C$189.00 to C$193.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Finally, Scotiabank dropped their price objective on shares of iA Financial from C$188.00 to C$174.00 in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$180.00.

iA Financial Trading Up 0.1%

Shares of TSE:IAG traded up C$0.10 on Wednesday, hitting C$174.16. The company had a trading volume of 240,626 shares, compared to its average volume of 347,181. The stock has a 50 day moving average price of C$158.20 and a 200 day moving average price of C$165.39. iA Financial has a 1-year low of C$129.24 and a 1-year high of C$182.99. The stock has a market cap of C$15.82 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.26 and a beta of 0.86.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, February 17th. The company reported C$3.10 EPS for the quarter. The business had revenue of C$3.23 billion for the quarter. iA Financial had a net margin of 10.11% and a return on equity of 13.62%. 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 news, insider Ï¿½Ric Jobin bought 1,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was acquired at an average price of C$151.82 per share, with a total value of C$151,820.00. Following the completion of the purchase, the insider directly owned 1,941 shares in the company, valued at C$294,682.62. This represents a 106.27% increase in their ownership of the stock. Also, Director Denis Ricard bought 6,000 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was purchased at an average cost of C$152.00 per share, with a total value of C$912,000.00. Following the purchase, 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 ownership of the stock. 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.