iA Financial (TSE:IAG) Sets New 52-Week High on Analyst Upgrade

Shares of iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high on Wednesday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$208.00 to C$220.00. The stock traded as high as C$223.72 and last traded at C$222.49, with a volume of 37098 shares trading hands. The stock had previously closed at C$207.12.

Other equities research analysts have also recently issued reports about the stock. Scotiabank upped their target price on shares of iA Financial from C$168.00 to C$198.52 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Royal Bank Of Canada lifted their price objective on iA Financial from C$167.00 to C$213.00 and gave the company a “sector perform” rating in a report on Thursday. National Bank Financial upped their price target on shares of iA Financial from C$205.00 to C$216.00 and gave the stock a “sector perform” rating in a research note on Wednesday. TD Securities lowered iA Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Desjardins raised their price objective on shares of iA Financial from C$205.00 to C$220.00 and gave the stock a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$213.61.

Insider Activity at iA Financial

In related news, insider Renée Laflamme sold 12,500 shares of the firm’s 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 value of C$2,410,125.00. Following the transaction, the insider owned 11,645 shares in the company, valued at approximately C$2,245,272.45. This trade represents a 51.77% decrease in their ownership of the stock. Also, insider Pierre Miron sold 15,000 shares of the firm’s 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 transaction, the insider owned 4,900 shares in the company, valued at C$857,010. The trade was a 75.38% decrease in their position. Over the last 90 days, insiders have sold 39,500 shares of company stock worth $7,156,765. 0.09% of the stock is owned by insiders.

iA Financial News Roundup

Here are the key news stories impacting iA Financial this week:

• Positive Sentiment: TD analyst sentiment indicates that IAG’s stock price is expected to rise, providing a supportive signal for investors. iA Financial Stock Price Expected to Rise, TD Analyst Says
• Positive Sentiment: BMO Capital Markets raised its price target from C$215 to C$225 and maintained an “outperform” rating, implying about 5.8% potential upside. Analyst target revisions
• Positive Sentiment: Scotia increased its target from C$198.52 to C$223, while CIBC lifted its target from C$208 to C$220. Both revisions indicate analysts see additional value in the shares. iA Financial analyst target revisions
• Neutral Sentiment: Desjardins raised its target from C$205 to C$220 but kept a “hold” rating. RBC increased its target sharply from C$167 to C$213 and maintained a “sector perform” rating, suggesting the stock is close to fair value. Analyst rating changes
• Neutral Sentiment: National Bank raised its target from C$205 to C$216, while TD lifted its target from C$214 to C$218; both retained cautious “sector perform” or “hold” views. Analyst target revisions

iA Financial Stock Down 0.1%

The firm has a 50-day simple moving average of C$195.21 and a 200 day simple moving average of C$174.75. The company has a market capitalization of C$18.99 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, August 4th. The company reported C$3.68 earnings per share (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$3.05 billion for the quarter. On average, research analysts predict that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

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