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

iA Financial Co. Inc. (TSE:IAG) shares hit a new 52-week high on Thursday after TD Securities raised their price target on the stock from C$178.00 to C$192.00. The stock traded as high as C$181.99 and last traded at C$181.90, with a volume of 182328 shares. The stock had previously closed at C$177.61.

A number of other research firms have also commented on IAG. Desjardins boosted their price target on shares of iA Financial from C$149.00 to C$163.00 and gave the company a “hold” rating in a research report on Wednesday, October 15th. CIBC raised iA Financial from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from C$175.00 to C$184.00 in a research note on Thursday, January 8th. BMO Capital Markets boosted their target price on iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. Royal Bank Of Canada raised their price target on iA Financial from C$151.00 to C$167.00 in a report on Thursday, November 6th. Finally, Cibc Captl Mkts downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, iA Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of C$169.00.

Insider Activity at iA Financial

In related news, Director Denis Ricard sold 3,000 shares of the stock in a transaction dated Friday, December 12th. The stock was sold at an average price of C$175.25, for a total value of C$525,750.00. Following the completion of the transaction, the director 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. Also, insider Philippe Sarfati sold 2,318 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of C$164.30, for a total value of C$380,847.40. Insiders sold 6,750 shares of company stock valued at $1,141,931 in the last ninety days. 0.09% of the stock is owned by corporate insiders.

iA Financial Trading Down 4.2%

The firm has a market cap of C$16.06 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.26 and a beta of 1.03. The business’s 50-day moving average is C$172.27 and its two-hundred day moving average is C$158.78.

iA Financial (TSE:IAG) last issued its earnings results on Tuesday, November 4th. The company reported C$3.47 earnings per share (EPS) for the quarter. The firm had revenue of C$6.67 billion for the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. On average, analysts anticipate that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current year.

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.