iA Financial (TSE:IAG) Price Target Raised to C$208.00

iA Financial (TSE:IAG) had its price objective lifted by Canadian Imperial Bank of Commerce from C$180.00 to C$208.00 in a report issued on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price objective points to a potential downside of 0.05% from the stock’s current price.

Several other research firms have also weighed in on IAG. TD lowered 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 note on Wednesday, May 6th. Scotia dropped 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 report on Thursday, May 7th. Desjardins raised their price target on shares of 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. National Bank Financial decreased their price target on shares of iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. Finally, TD Securities cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$183.17.

iA Financial Price Performance

TSE IAG traded up C$4.78 on Wednesday, hitting C$208.10. 152,845 shares of the company’s stock were exchanged, compared to its average volume of 338,586. The stock has a 50-day moving average of C$182.44 and a 200-day moving average of C$171.30. The stock has a market cap of C$18.58 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.26 and a beta of 0.91. iA Financial has a 52 week low of C$133.36 and a 52 week high of C$208.38. The company has a current ratio of 0.60, a quick ratio of 0.17 and a debt-to-equity ratio of 18.46.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%.The company had revenue of C$2.74 billion for the quarter. Analysts expect that iA Financial will post 11.6187564 earnings per share for the current year.

Insider Activity at iA Financial

In related news, insider Alain Bergeron sold 1,300 shares of iA Financial stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of C$189.20, for a total transaction of C$245,960.00. Also, insider Pierre Miron sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, 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. Insiders sold a total of 39,500 shares of company stock worth $7,156,765 in the last quarter. 0.09% of the stock is owned by insiders.

About iA Financial

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