iA Financial (TSE:IAG) Sets 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$206.05 and last traded at C$203.19, with a volume of 193476 shares changing hands. The stock had previously closed at C$203.87.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Desjardins upped their target price on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a report on Friday, April 17th. TD downgraded iA Financial from a “buy” rating to a “hold” rating and cut their price target for the company from C$193.00 to C$190.00 in a research note on Wednesday, May 6th. TD Securities lowered iA Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Scotia lowered their price objective on iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating for the company in a research note on Thursday, May 7th. Finally, National Bank Financial lowered their price objective on iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 6th. Nine analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$177.78.

iA Financial Stock Performance

The company’s 50 day moving average price is C$180.10 and its 200-day moving average price is C$170.55. The stock has a market cap of C$18.09 billion, a P/E ratio of 18.76, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. The company has a debt-to-equity ratio of 18.46, a quick ratio of 0.17 and a current ratio of 0.60.

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

Insider Buying and Selling at iA Financial

In other iA Financial news, insider Renée Laflamme sold 12,500 shares of iA Financial stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the transaction, the insider owned 11,645 shares of the company’s stock, valued at C$2,245,272.45. This trade represents a 51.77% decrease in their position. Also, insider Alain Bergeron sold 700 shares of iA Financial stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of C$195.40, for a total transaction of C$136,780.00. In the last 90 days, insiders sold 39,500 shares of company stock worth $7,156,765. 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