iA Financial (TSE:IAG) Hits New 1-Year High – Here’s Why

Shares of iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$206.05 and last traded at C$203.19, with a volume of 193476 shares. The stock had previously closed at C$203.87.

Analysts Set New Price Targets

IAG has been the subject of a number of research reports. Scotia decreased 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 research note on Thursday, May 7th. TD Securities downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. 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 report on Wednesday, May 6th. TD cut iA Financial from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$193.00 to C$190.00 in a research report on Wednesday, May 6th. Finally, Desjardins boosted their target price on 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. Nine research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of C$177.78.

iA Financial Stock Performance

The stock has a market cap of C$18.14 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. The firm’s 50-day moving average is C$178.97 and its two-hundred day moving average is C$170.19. 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 (TSE:IAG) last posted its earnings results on Tuesday, May 5th. The company reported C$3.25 EPS for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. The company had revenue of C$2.74 billion during the quarter. As a group, research analysts expect that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

Insider Buying and Selling

In related news, insider Alain Bergeron sold 700 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$195.40, for a total value of C$136,780.00. Also, insider Pierre Miron sold 15,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$174.90, for a total transaction of C$2,623,500.00. Following the transaction, the insider directly owned 4,900 shares in the company, valued at C$857,010. The trade was a 75.38% decrease in their ownership of the stock. Over the last three months, insiders sold 39,500 shares of company stock worth $7,156,765. Corporate 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