iA Financial (TSE:IAG) Trading Down 10.8% on Analyst Downgrade

iA Financial Co. Inc. (TSE:IAG)’s stock price traded down 10.8% during mid-day trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$185.00 to C$175.00. The stock traded as low as C$151.23 and last traded at C$151.66. 326,179 shares were traded during mid-day trading, an increase of 11% from the average session volume of 293,670 shares. The stock had previously closed at C$170.06.

Several other research firms have also recently weighed in on IAG. Royal Bank Of Canada set a C$167.00 price target on iA Financial and gave the stock a “sector perform” rating in a report on Monday, January 19th. National Bank Financial lowered their price objective on iA Financial from C$190.00 to C$181.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Canadian Imperial Bank of Commerce downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. TD Securities reduced their target price on shares of iA Financial from C$192.00 to C$189.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Scotiabank lowered their price target on shares of iA Financial from C$188.00 to C$174.00 in a research report on Thursday. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, iA Financial currently has an average rating of “Hold” and a consensus target price of C$176.14.

Insiders Place Their Bets

In related news, Director Denis Ricard sold 3,000 shares of iA Financial stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$175.25, for a total value of C$525,750.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at C$8,762,500. This trade represents a 5.66% decrease in their ownership of the stock. 0.09% of the stock is owned by corporate insiders.

iA Financial Price Performance

The company has a fifty day moving average price of C$172.82 and a two-hundred day moving average price of C$163.00. The company has a market capitalization of C$14.32 billion, a P/E ratio of 13.35, a PEG ratio of 1.26 and a beta of 1.02.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Tuesday, February 17th. The company reported C$3.10 earnings per share (EPS) for the quarter. The business had revenue of C$3.23 billion during the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. As a group, sell-side analysts forecast that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current year.

iA Financial Company Profile

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.