iA Financial (TSE:IAG) Stock Price Down 10.8% Following Analyst Downgrade

iA Financial Co. Inc. (TSE:IAG)’s stock price dropped 10.8% during trading on Wednesday after BMO Capital Markets lowered their price target on the stock from C$185.00 to C$175.00. The company traded as low as C$151.23 and last traded at C$151.66. Approximately 326,179 shares traded hands during trading, an increase of 11% from the average daily volume of 293,670 shares. The stock had previously closed at C$170.06.

Several other equities analysts have also recently commented on IAG. National Bank Financial dropped their target price on shares of iA Financial from C$190.00 to C$181.00 and set a “sector perform” rating for the company in a research report on Wednesday. TD Securities lowered their price objective on shares of iA Financial from C$192.00 to C$189.00 and set a “buy” rating for the company in a research report on Wednesday. Scotiabank cut their target price on iA Financial from C$188.00 to C$174.00 in a research note on Thursday. Canadian Imperial Bank of Commerce downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 8th. Finally, Royal Bank Of Canada set a C$167.00 price target on iA Financial and gave the stock a “sector perform” rating in a report on Monday, January 19th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, iA Financial currently has an average rating of “Hold” and an average price target of C$176.14.

Insider Activity

In related news, Director Denis Ricard sold 3,000 shares of the firm’s stock in a transaction on 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 sale, the director owned 50,000 shares of the company’s stock, valued at C$8,762,500. This trade represents a 5.66% decrease in their position. Company insiders own 0.09% of the company’s stock.

iA Financial Price Performance

The firm has a market capitalization of C$14.32 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 1.26 and a beta of 1.02. The stock has a fifty day moving average of C$172.82 and a two-hundred day moving average of C$163.00.

iA Financial (TSE:IAG) last announced its earnings results on Tuesday, February 17th. The company reported C$3.10 EPS for the quarter. The firm had revenue of C$3.23 billion for the quarter. iA Financial had a return on equity of 13.73% and a net margin of 6.85%. On average, research analysts forecast that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

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.