iA Financial (TSE:IAG) Reaches New 52-Week High – Still a Buy?

iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high during trading on Thursday . The company traded as high as C$177.94 and last traded at C$177.22, with a volume of 63603 shares changing hands. The stock had previously closed at C$176.16.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. CIBC lifted their target price on iA Financial from C$150.00 to C$173.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. BMO Capital Markets raised their price target on shares of iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. Desjardins lifted their price objective on shares of iA Financial from C$149.00 to C$163.00 and gave the stock a “hold” rating in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their target price on shares of iA Financial from C$151.00 to C$167.00 in a research report on Thursday, November 6th. Finally, TD Securities lifted their price target on shares of iA Financial from C$175.00 to C$178.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$165.43.

iA Financial Stock Down 1.3%

The stock has a market capitalization of C$16.15 billion, a price-to-earnings ratio of 15.06, a P/E/G ratio of 1.26 and a beta of 0.90. The business’s 50 day simple moving average is C$165.47 and its 200-day simple moving average is C$153.85.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported C$3.47 earnings per share (EPS) for the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. The business had revenue of C$6.67 billion for the quarter. On average, analysts expect that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current year.

Insiders Place Their Bets

In other iA Financial news, Director Denis Ricard sold 3,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of C$175.25, for a total transaction of C$525,750.00. Following the completion of the transaction, the director owned 50,000 shares of the company’s stock, valued at approximately C$8,762,500. The trade was a 5.66% decrease in their ownership of the stock. Also, insider Philippe Sarfati sold 2,318 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of C$164.30, for a total transaction of C$380,847.40. Insiders have sold a total of 6,750 shares of company stock valued at $1,141,931 in the last three months. 0.09% of the stock is owned by insiders.

About iA Financial

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.