iA Financial (TSE:IAG) Sets New 12-Month High – Time to Buy?

iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high on Wednesday . The stock traded as high as C$223.72 and last traded at C$222.49, with a volume of 37098 shares traded. The stock had previously closed at C$207.12.

Analyst Ratings Changes

IAG has been the topic of several recent research reports. National Bank Financial increased their price target on iA Financial from C$179.00 to C$205.00 and gave the company a “sector perform” rating in a report on Thursday, July 23rd. Desjardins boosted their price objective on shares of iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a research report on Friday, April 17th. Canadian Imperial Bank of Commerce increased their target price on shares of iA Financial from C$180.00 to C$208.00 in a research note on Wednesday, July 15th. Scotiabank lifted their price target on shares of iA Financial from C$168.00 to C$198.52 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Finally, TD increased their price objective on shares of iA Financial from C$190.00 to C$214.00 and gave the stock a “hold” rating in a research report on Tuesday, July 21st. Eight research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of C$188.72.

iA Financial Stock Up 3.9%

The company has a 50-day moving average of C$193.53 and a 200-day moving average of C$174.26. The company has a market capitalization of C$19.22 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. 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, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. On average, equities analysts predict that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current fiscal year.

Insider Buying and Selling at iA Financial

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

iA Financial Company Profile

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