iA Financial (TSE:IAG) Reaches New 12-Month High – Here’s What Happened

Shares of iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$196.16 and last traded at C$195.83, with a volume of 200683 shares traded. The stock had previously closed at C$195.83.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Desjardins boosted their target price on iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. National Bank Financial lowered their price target 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. TD Securities downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Scotia cut their price objective on 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. Finally, TD cut shares of iA Financial from a “buy” rating to a “hold” rating and decreased their price objective for the stock from C$193.00 to C$190.00 in a research report on Wednesday, May 6th. Nine equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$177.78.

iA Financial Stock Up 3.4%

The company has a market cap of C$18.08 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.26 and a beta of 0.97. The stock has a 50-day moving average of C$177.83 and a two-hundred day moving average of C$169.80. The company has a debt-to-equity ratio of 18.46, a quick ratio of 0.17 and a current ratio of 0.60.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 EPS for the quarter. The business 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%. On average, research analysts anticipate that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

Insider Activity at iA Financial

In other iA Financial news, insider Pierre Miron sold 15,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the completion of the sale, the insider directly owned 4,900 shares of the company’s stock, valued at C$857,010. The trade was a 75.38% decrease in their ownership of the stock. Also, insider Renée Laflamme sold 12,500 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the completion of the sale, the insider directly owned 11,645 shares of the company’s stock, valued at C$2,245,272.45. This represents a 51.77% decrease in their ownership of the stock. In the last 90 days, insiders have sold 39,500 shares of company stock valued at $7,156,765. Insiders own 0.09% of the company’s stock.

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