iA Financial (TSE:IAG) Hits New 12-Month High Following Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high during trading on Wednesday after Canadian Imperial Bank of Commerce raised their price target on the stock from C$208.00 to C$220.00. The stock traded as high as C$223.72 and last traded at C$222.49, with a volume of 37098 shares trading hands. The stock had previously closed at C$207.12.

Several other analysts have also weighed in on the company. TD upped their target price on iA Financial from C$214.00 to C$218.00 and gave the company a “hold” rating in a report on Wednesday. Royal Bank Of Canada upped their target price on shares of iA Financial from C$167.00 to C$213.00 and gave the company a “sector perform” rating in a report on Thursday. BMO Capital Markets boosted their price objective on shares of iA Financial from C$215.00 to C$225.00 and gave the company an “outperform” rating in a research report on Thursday. TD Securities lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Finally, Desjardins boosted their price target on iA Financial from C$205.00 to C$220.00 and gave the company a “hold” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, iA Financial presently has an average rating of “Hold” and a consensus price target of C$213.61.

Insider Transactions at iA Financial

In other news, insider Renée Laflamme sold 12,500 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the completion of the sale, the insider owned 11,645 shares in the company, valued at approximately C$2,245,272.45. The trade was a 51.77% decrease in their position. Also, insider Alain Bergeron sold 1,300 shares of iA Financial stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of C$189.20, for a total transaction of C$245,960.00. Insiders have sold a total of 39,500 shares of company stock worth $7,156,765 in the last three months. 0.09% of the stock is currently owned by company insiders.

iA Financial News Roundup

Here are the key news stories impacting iA Financial this week:

• Positive Sentiment: TD analyst sentiment indicates that IAG’s stock price is expected to rise, providing a supportive signal for investors. iA Financial Stock Price Expected to Rise, TD Analyst Says
• Positive Sentiment: BMO Capital Markets raised its price target from C$215 to C$225 and maintained an “outperform” rating, implying about 5.8% potential upside. Analyst target revisions
• Positive Sentiment: Scotia increased its target from C$198.52 to C$223, while CIBC lifted its target from C$208 to C$220. Both revisions indicate analysts see additional value in the shares. iA Financial analyst target revisions
• Neutral Sentiment: Desjardins raised its target from C$205 to C$220 but kept a “hold” rating. RBC increased its target sharply from C$167 to C$213 and maintained a “sector perform” rating, suggesting the stock is close to fair value. Analyst rating changes
• Neutral Sentiment: National Bank raised its target from C$205 to C$216, while TD lifted its target from C$214 to C$218; both retained cautious “sector perform” or “hold” views. Analyst target revisions

iA Financial Trading Down 0.1%

The business’s 50-day moving average is C$195.21 and its two-hundred day moving average is C$174.75. The company has a current ratio of 0.60, a quick ratio of 0.17 and a debt-to-equity ratio of 18.46. The stock has a market capitalization of C$18.99 billion, a PE ratio of 19.70, a PEG ratio of 1.26 and a beta of 0.92.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. The firm had revenue of C$3.05 billion during the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. On average, analysts predict that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current year.

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