Scotiabank Downgrades iA Financial (TSE:IAG) to Hold

iA Financial (TSE:IAG) was downgraded by investment analysts at Scotiabank from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

IAG has been the topic of a number of other reports. National Bankshares raised their price target on iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th. BMO Capital Markets raised their price target on iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Royal Bank of Canada downgraded iA Financial from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$105.00 to C$137.00 in a research report on Thursday, November 7th. Finally, CIBC lifted their target price on iA Financial from C$143.00 to C$144.00 in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, iA Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$129.88.

iA Financial Stock Performance

IAG stock opened at C$130.62 on Monday. The company has a market cap of C$12.43 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$138.01. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The stock’s fifty day moving average price is C$132.64 and its 200-day moving average price is C$116.59.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, November 5th. The company reported C$2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.63 by C$0.30. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. On average, equities analysts forecast that iA Financial will post 11.6187564 earnings per share for the current year.

Insider Activity

In other news, Director Denis Ricard sold 7,200 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total value of C$943,200.00. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total value of C$130,600.00. Insiders have sold 58,010 shares of company stock worth $7,675,070 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.