iA Financial (TSE:IAG) Hits New 12-Month High on Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG)’s share price hit a new 52-week high on Tuesday after TD raised their price target on the stock from C$190.00 to C$214.00. TD currently has a hold rating on the stock. iA Financial traded as high as C$213.16 and last traded at C$205.32, with a volume of 375574 shares trading hands. The stock had previously closed at C$208.22.

Several other research firms also recently issued reports on IAG. Scotiabank raised their price target on shares of iA Financial from C$168.00 to C$198.52 and gave the company a “sector perform” rating in a research note on Wednesday, July 15th. Desjardins boosted their price objective on shares of 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. Canadian Imperial Bank of Commerce raised their target price on iA Financial from C$180.00 to C$208.00 in a research report on Wednesday, July 15th. National Bank Financial cut their target price on 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, Scotia reduced their price target on 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. Nine analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of C$185.84.

Insiders Place Their Bets

In other news, insider Alain Bergeron sold 1,300 shares of iA Financial stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of C$189.20, for a total value of C$245,960.00. Also, insider Pierre Miron sold 15,000 shares of iA Financial stock in a transaction 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 sale, the insider owned 4,900 shares of the company’s stock, valued at C$857,010. This represents a 75.38% decrease in their position. In the last three months, insiders have sold 39,500 shares of company stock worth $7,156,765. Corporate insiders own 0.09% of the company’s stock.

iA Financial Trading Down 0.3%

The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. The stock has a market capitalization of C$18.37 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.26 and a beta of 0.91. The firm’s 50 day simple moving average is C$187.48 and its two-hundred day simple moving average is C$172.53.

iA Financial (TSE:IAG) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. The company had revenue of C$2.74 billion for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. As a group, analysts forecast that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current fiscal year.

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