iA Financial (TSE:IAG) Hits New 1-Year High – Here’s What Happened

iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as C$225.14 and last traded at C$220.43, with a volume of 50,189 shares changing hands. The stock had previously closed at C$213.61.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on IAG. Royal Bank Of Canada raised their price target on iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 6th. Desjardins boosted their price objective on iA Financial from C$205.00 to C$220.00 and gave the company a “hold” rating in a research note on Thursday, August 6th. TD increased their price objective on iA Financial from C$214.00 to C$218.00 and gave the company a “hold” rating in a report on Wednesday, August 5th. BMO Capital Markets raised their target price on shares of iA Financial from C$215.00 to C$225.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Scotia raised their target price on shares of iA Financial from C$198.52 to C$223.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$213.50.

iA Financial Price Performance

The firm’s 50 day moving average price is C$209.06 and its two-hundred day moving average price is C$185.52. The firm has a market cap of C$19.22 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.26 and a beta of 0.74.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Monday, November 9th. The company reported C$4.03 earnings per share (EPS) for the quarter. The firm had revenue of C$3.06 billion for the quarter. iA Financial had a return on equity of 13.70% and a net margin of 8.29%. On average, analysts anticipate that iA Financial Co. Inc. will post 11.62 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.