iA Financial (TSE:IAG) Reaches New 12-Month High Following Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from C$168.00 to C$198.52. Scotiabank currently has a sector perform rating on the stock. iA Financial traded as high as C$206.84 and last traded at C$206.84, with a volume of 75691 shares traded. The stock had previously closed at C$203.32.

Several other brokerages also recently weighed in on IAG. TD downgraded shares of iA Financial from a “buy” rating to a “hold” rating and lowered their price target for the company from C$193.00 to C$190.00 in a report on Wednesday, May 6th. National Bank Financial reduced their price objective on shares of iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. Canadian Imperial Bank of Commerce raised their price objective on shares of iA Financial from C$180.00 to C$208.00 in a research report on Wednesday. Desjardins lifted their target price on shares of iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a research note on Friday, April 17th. Finally, Scotia dropped their target price on shares of iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating for the company in a report on Thursday, May 7th. Nine analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$183.17.

Insiders Place Their Bets

In other iA Financial news, insider Pierre Miron sold 15,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of C$174.90, for a total transaction of C$2,623,500.00. Following the completion of the sale, the insider directly owned 4,900 shares of the company’s stock, valued at C$857,010. This trade represents a 75.38% decrease in their position. Also, insider Renée Laflamme sold 12,500 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the sale, the insider directly owned 11,645 shares of the company’s stock, valued at approximately C$2,245,272.45. This trade represents a 51.77% decrease in their ownership of the stock. Insiders sold 39,500 shares of company stock worth $7,156,765 in the last three months. 0.09% of the stock is owned by company insiders.

iA Financial Stock Performance

The firm’s 50 day simple moving average is C$184.35 and its 200 day simple moving average is C$171.74. The firm has a market cap of C$18.80 billion, a PE ratio of 19.50, a PEG ratio of 1.26 and a beta of 0.91. The company has a current ratio of 0.60, a quick ratio of 0.17 and a debt-to-equity ratio of 18.46.

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. iA Financial had a return on equity of 12.80% and a net margin of 9.87%.The firm had revenue of C$2.74 billion during the quarter. On average, research analysts forecast that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

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