iA Financial (TSE:IAG) Hits New 12-Month High – Should You Buy?

iA Financial Co. Inc. (TSE:IAG)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$144.91 and last traded at C$143.46, with a volume of 20624 shares traded. The stock had previously closed at C$141.84.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on iA Financial from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Desjardins lifted their price objective on iA Financial from C$140.00 to C$145.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. TD Securities lifted their price objective on iA Financial from C$140.00 to C$147.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. CIBC dropped their price objective on iA Financial from C$149.00 to C$144.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank dropped their price objective on iA Financial from C$143.00 to C$140.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, iA Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of C$139.75.

iA Financial Stock Up 1.2%

The stock has a market capitalization of C$13.47 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a 50 day moving average of C$132.96 and a 200 day moving average of C$132.05.

Insider Activity at iA Financial

In other iA Financial news, Senior Officer Alain Bergeron sold 2,750 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of C$135.37, for a total transaction of C$372,267.50. Also, Director Denis Ricard sold 8,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of C$143.00, for a total value of C$1,144,000.00. Over the last ninety days, insiders sold 54,000 shares of company stock worth $7,513,763. 0.09% of the stock is currently owned by insiders.

iA Financial Company Profile

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.