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

iA Financial Co. Inc. (TSE:IAG)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$195.97 and last traded at C$193.45, with a volume of 146458 shares. The stock had previously closed at C$191.12.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IAG. Scotia decreased their target price on shares of iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 7th. TD lowered iA Financial from a “buy” rating to a “hold” rating and reduced their price target for the stock from C$193.00 to C$190.00 in a research note on Wednesday, May 6th. National Bank Financial dropped their target price on 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. TD Securities downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Desjardins raised their price target on iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. Nine equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, iA Financial currently has an average rating of “Hold” and an average price target of C$177.78.

iA Financial Stock Performance

The company has a market cap of C$17.25 billion, a PE ratio of 17.89, a P/E/G ratio of 1.26 and a beta of 0.97. The stock’s 50 day simple moving average is C$175.02 and its two-hundred day simple moving average is C$168.73. 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 issued its earnings results 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 business had revenue of C$2.74 billion for the quarter. As a group, research analysts anticipate that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Pierre Miron sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the transaction, the insider directly owned 4,900 shares in the company, valued at C$857,010. This trade represents a 75.38% decrease in their position. Also, insider Renée Laflamme sold 10,000 shares of iA Financial stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of C$174.04, for a total value of C$1,740,400.00. Following the completion of the transaction, the insider directly owned 11,645 shares in the company, valued at C$2,026,695.80. This represents a 46.20% decrease in their ownership of the stock. Insiders sold 26,300 shares of company stock worth $4,609,860 over the last three months. 0.09% of the stock is owned by insiders.

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