iA Financial (TSE:IAG) Reaches New 52-Week High After Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG) shares hit a new 52-week high during trading on Tuesday after Royal Bank Of Canada upgraded the stock from a hold rating to a moderate buy rating. The stock traded as high as C$225.14 and last traded at C$220.43, with a volume of 50,189 shares traded. The stock had previously closed at C$213.61.

A number of other equities analysts also recently commented on IAG. Canadian Imperial Bank of Commerce lifted their price objective on iA Financial from C$208.00 to C$220.00 in a research report on Thursday, August 6th. Scotia upped their target price on iA Financial from C$198.52 to C$223.00 and gave the company a “sector perform” rating in a report on Thursday, August 6th. BMO Capital Markets upped their target price on iA Financial from C$225.00 to C$235.00 and gave the company an “outperform” rating in a report on Wednesday. National Bank Financial raised their target price on iA Financial from C$215.00 to C$221.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Scotiabank lifted their price target on iA Financial from C$168.00 to C$198.52 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$217.17.

More iA Financial News

Investors following IAG have been watching these news items:

• Positive Sentiment: iA Financial reported third-quarter results and announced a 7% increase to its common dividend, signaling higher returns for shareholders. iA Financial Group Reports Q3 Results, Announces 7% Common Dividend Increase
• Positive Sentiment: RBC upgraded iA Financial to Outperform, while another rating update raised its recommendation from Hold to Moderate Buy. The upgrades suggest a more favorable view of the shares. RBC Upgrades iA Financial to Outperform
• Positive Sentiment: BMO raised its price target to C$235 and kept an Outperform rating; Desjardins also raised its target, to C$230, while retaining Hold. National Bank Financial and TD raised their targets as well, though their ratings remained more cautious. National Bank Financial Analyst Sees Stock Price Rising TD Analyst Sees Stock Price Rising

iA Financial Stock Performance

The stock has a market cap of C$19.38 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 1.26 and a beta of 0.74. The company’s 50-day moving average price is C$209.96 and its 200 day moving average price is C$186.02.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Monday, November 9th. The company reported C$4.03 earnings per share for the quarter. The company had revenue of C$3.06 billion during the quarter. iA Financial had a return on equity of 12.43% and a net margin of 7.71%. As a group, equities research analysts predict that iA Financial Co. Inc. will post 11.62 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.