Desjardins Boosts iA Financial (TSE:IAG) Price Target to C$174.00

Key Points

• Desjardins raised its price target on iA Financial to C$174.00 (from C$173.00) while maintaining a "hold" rating, implying only about a 0.81% upside from the prior close.
• The stock traded at C$172.60 with a market cap of C$15.67 billion and a P/E of 15.29, and analysts' consensus remains Hold with an average target of C$179.63.
• Insider purchases were reported: Ric Jobin bought 1,000 shares at C$151.82 and director Denis Ricard bought 6,000 shares at C$152, modestly increasing insider holdings (insiders own ~0.09%).

iA Financial (TSE:IAG - Get Free Report) had its price objective raised by analysts at Desjardins from C$173.00 to C$174.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' price target would indicate a potential upside of 0.81% from the company's previous close.

A number of other research analysts also recently issued reports on the company. National Bank Financial reduced their price objective on iA Financial from C$190.00 to C$181.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 18th. Royal Bank Of Canada set a C$167.00 price target on iA Financial and gave the company a "sector perform" rating in a research report on Monday, January 19th. Canadian Imperial Bank of Commerce cut iA Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 8th. TD Securities dropped their price target on iA Financial from C$192.00 to C$189.00 and set a "buy" rating on the stock in a research report on Wednesday, February 18th. Finally, TD upped their price target on iA Financial from C$189.00 to C$193.00 and gave the company a "buy" rating in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of C$179.63.

iA Financial Stock Performance

TSE:IAG traded up C$1.57 during trading on Friday, reaching C$172.60. The company's stock had a trading volume of 117,127 shares, compared to its average volume of 351,081. The firm has a market cap of C$15.67 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The firm has a 50 day moving average of C$157.52 and a 200-day moving average of C$164.48. iA Financial has a 12 month low of C$124.25 and a 12 month high of C$182.99.

iA Financial (TSE:IAG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 17th. The company reported C$3.10 earnings per share (EPS) for the quarter. The firm had revenue of C$3.23 billion during the quarter. iA Financial had a return on equity of 13.62% and a net margin of 10.11%. Equities research analysts forecast that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ï¿½Ric Jobin acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were acquired at an average price of C$151.82 per share, with a total value of C$151,820.00. Following the acquisition, the insider owned 1,941 shares of the company's stock, valued at approximately C$294,682.62. This trade represents a 106.27% increase in their position. Also, Director Denis Ricard acquired 6,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were bought at an average cost of C$152.00 per share, for a total transaction of C$912,000.00. Following the acquisition, the director directly owned 56,000 shares in the company, valued at C$8,512,000. This represents a 12.00% increase in their position. 0.09% of the stock is owned by corporate insiders.

iA Financial Company Profile

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.

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.