iA Financial (TSE:IAG) Reaches New 52-Week High – Should You Buy?

iA Financial Co. Inc. (TSE:IAG)’s stock price hit a new 52-week high during trading on Thursday . The company traded as high as C$195.97 and last traded at C$193.45, with a volume of 146458 shares changing hands. The stock had previously closed at C$191.12.

Analyst Ratings Changes

Several research firms have recently commented on IAG. Scotia reduced their price target 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. Desjardins increased their price objective 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. TD Securities cut iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. National Bank Financial reduced their target price on iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Finally, TD lowered shares of iA Financial from a “buy” rating to a “hold” rating and lowered their target price for the stock from C$193.00 to C$190.00 in a research report on Wednesday, May 6th. Nine research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$177.78.

iA Financial Stock Performance

The stock has a 50-day simple moving average of C$175.02 and a 200 day simple moving average of C$168.73. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17. The company has a market capitalization of C$17.25 billion, a PE ratio of 17.89, a P/E/G ratio of 1.26 and a beta of 0.97.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share for the quarter. The business had revenue of C$2.74 billion during the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. Equities analysts anticipate that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Alain Bergeron sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of C$189.20, for a total value of C$245,960.00. Also, insider Renée Laflamme sold 10,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of C$174.04, for a total value of C$1,740,400.00. Following the sale, the insider owned 11,645 shares in the company, valued at approximately C$2,026,695.80. This trade represents a 46.20% decrease in their position. Over the last quarter, insiders sold 26,300 shares of company stock worth $4,609,860. 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