National Bank Financial Issues Pessimistic Forecast for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its target price dropped by equities research analysts at National Bank Financial from C$216.00 to C$215.00 in a report issued on Monday, BayStreet reports. The brokerage currently has a “sector perform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 1.94% from the company’s previous close.

A number of other brokerages also recently commented on IAG. Scotia lifted their price objective on shares of iA Financial from C$198.52 to C$223.00 and gave the company a “sector perform” rating in a research report on Thursday, August 6th. TD upped their target price on shares of iA Financial from C$214.00 to C$218.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. Royal Bank Of Canada lifted their price target on iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a report on Thursday, August 6th. BMO Capital Markets lifted their price target on iA Financial from C$215.00 to C$225.00 and gave the stock an “outperform” rating in a report on Thursday, August 6th. Finally, Canadian Imperial Bank of Commerce upped their price objective on iA Financial from C$208.00 to C$220.00 in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of C$213.50.

iA Financial Stock Down 1.1%

Shares of TSE:IAG traded down C$2.42 during midday trading on Monday, hitting C$210.90. The stock had a trading volume of 141,389 shares, compared to its average volume of 328,536. iA Financial has a 12 month low of C$145.44 and a 12 month high of C$223.72. The business’s 50-day simple moving average is C$205.46 and its 200-day simple moving average is C$191.38. The company has a market cap of C$18.64 billion, a P/E ratio of 18.15, a PEG ratio of 1.26 and a beta of 0.81.

iA Financial (TSE:IAG) last issued its earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. iA Financial had a net margin of 8.29% and a return on equity of 13.70%. The business had revenue of C$3.05 billion for the quarter. As a group, equities analysts predict that iA Financial will post 11.62 earnings per share for the current year.

Insider Activity

In other news, insider Renée Laflamme sold 12,500 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of C$211.86, for a total value of C$2,648,250.00. Following the transaction, the insider owned 11,645 shares of the company’s stock, valued at approximately C$2,467,109.70. This represents a 51.77% decrease in their ownership of the stock. 0.09% of the stock is currently owned by corporate insiders.

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