BMO Capital Markets Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

Key Points

• BMO Capital Markets raised iA Financial’s price target to C$225 from C$215 and maintained an “outperform” rating, implying 5.45% upside from the reported C$213.38 share price.
• Analyst sentiment remains cautious overall: iA Financial has an average “Hold” rating and a consensus price target of C$213.61, despite several firms recently increasing their targets.
• The company reported quarterly EPS of C$3.68, with a 12.80% return on equity and a 9.87% net margin. Meanwhile, insiders sold 39,500 shares worth approximately C$7.16 million over the past three months.

iA Financial (TSE:IAG - Get Free Report) had its price objective raised by equities researchers at BMO Capital Markets from C$215.00 to C$225.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price objective would indicate a potential upside of 5.45% from the company's current price.

Several other research firms also recently commented on IAG. Canadian Imperial Bank of Commerce upped their price objective on iA Financial from C$180.00 to C$208.00 in a research note on Wednesday, July 15th. Royal Bank Of Canada lifted 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. TD Securities lowered shares of iA Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. National Bank Financial increased their price target on shares of iA Financial from C$205.00 to C$216.00 and gave the stock a "sector perform" rating in a report on Wednesday. Finally, TD raised their price objective on shares of iA Financial from C$214.00 to C$218.00 and gave the company a "hold" rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, iA Financial currently has an average rating of "Hold" and a consensus price target of C$213.61.

iA Financial Stock Up 0.2%

IAG stock traded up C$0.43 during midday trading on Thursday, hitting C$213.38. The company's stock had a trading volume of 238,746 shares, compared to its average volume of 340,104. iA Financial has a 52-week low of C$140.34 and a 52-week high of C$223.72. The firm has a 50-day simple moving average of C$194.37 and a 200-day simple moving average of C$174.48. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. The firm has a market capitalization of C$19.05 billion, a P/E ratio of 19.76, a PEG ratio of 1.26 and a beta of 0.92.

iA Financial (TSE:IAG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. As a group, equities analysts forecast that iA Financial will post 11.6187564 EPS for the current year.

Insiders Place Their Bets

In other news, 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. Also, insider Renée Laflamme sold 12,500 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of C$192.81, for a total value of C$2,410,125.00. Following the sale, the insider directly owned 11,645 shares in the company, valued at C$2,245,272.45. This trade represents a 51.77% decrease in their position. Over the last three months, insiders have sold 39,500 shares of company stock worth $7,156,765. 0.09% of the stock is owned by company insiders.

iA Financial Company Profile

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source