iA Financial (TSE:IAG) Stock Gets Price Target Trim from National Bank Financial

Key Points

• National Bank Financial lowered its iA Financial price target slightly to C$215 from C$216 while maintaining a “sector perform” rating, implying about 1.94% upside from the prior close.
• Analyst sentiment remains cautious: iA Financial has a consensus “Hold” rating from nine analysts, with a consensus price target of C$213.50.
• Shares fell 1.1% to C$210.90 during Monday trading. The company recently reported quarterly EPS of C$3.68 on C$3.05 billion in revenue, while insider Renée Laflamme sold 12,500 shares worth approximately C$2.65 million.

iA Financial (TSE:IAG - Get Free Report) had its target price dropped by stock analysts at National Bank Financial from C$216.00 to C$215.00 in a research report issued to clients and investors on Monday, BayStreet reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's target price suggests a potential upside of 1.94% from the company's previous close.

IAG has been the subject of several other research reports. TD upped their price target on shares of iA Financial from C$214.00 to C$218.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. Desjardins raised their price objective on shares of iA Financial from C$205.00 to C$220.00 and gave the stock a "hold" rating in a report on Thursday, August 6th. Canadian Imperial Bank of Commerce boosted their price objective on shares of iA Financial from C$208.00 to C$220.00 in a research report on Thursday, August 6th. BMO Capital Markets upped 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 note on Thursday, August 6th. Finally, Scotia increased their target price on iA Financial from C$198.52 to C$223.00 and gave the stock a "sector perform" rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of C$213.50.

iA Financial Trading Down 1.1%

Shares of TSE IAG traded down C$2.42 during mid-day trading on Monday, reaching C$210.90. 141,389 shares of the company's stock were exchanged, compared to its average volume of 328,536. iA Financial has a twelve month low of C$145.44 and a twelve month high of C$223.72. The firm has a market capitalization of C$18.64 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.26 and a beta of 0.81. The business has a fifty day simple moving average of C$205.46 and a 200 day simple moving average of C$191.38.

iA Financial (TSE:IAG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. The business had revenue of C$3.05 billion during the quarter. iA Financial had a return on equity of 13.70% and a net margin of 8.29%. Equities research analysts predict that iA Financial will post 11.62 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Renée Laflamme sold 12,500 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of C$211.86, for a total transaction of C$2,648,250.00. Following the completion of the transaction, the insider owned 11,645 shares in the company, valued at approximately C$2,467,109.70. This represents a 51.77% decrease in their ownership of the stock. 0.09% of the stock is owned by company insiders.

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

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