Desjardins Increases iA Financial (TSE:IAG) Price Target to C$220.00

Key Points

• Desjardins raised iA Financial’s price target to C$220 from C$205 while maintaining a “hold” rating, implying approximately 3.1% upside from the stock’s current price.
• Analyst sentiment remains cautious: iA Financial has an average “hold” rating and a consensus price target of C$213.61, despite targets from BMO and other firms ranging up to C$225.
• Shares recently traded at C$213.38, near the consensus target, while the company reported quarterly EPS of C$3.68. Insiders have sold 39,500 shares worth approximately C$7.16 million over the past 90 days.

iA Financial (TSE:IAG - Get Free Report) had its target price increased by investment analysts at Desjardins from C$205.00 to C$220.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. Desjardins' price objective would suggest a potential upside of 3.10% from the stock's current price.

Other analysts have also recently issued reports about the company. TD Securities cut iA Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. BMO Capital Markets raised their price target on shares of iA Financial from C$215.00 to C$225.00 and gave the stock an "outperform" rating in a report on Thursday. National Bank Financial boosted their price target on shares of iA Financial from C$205.00 to C$216.00 and gave the company a "sector perform" rating in a research note on Wednesday. TD boosted their target price on iA Financial from C$214.00 to C$218.00 and gave the company a "hold" rating in a research report on Wednesday. Finally, Royal Bank Of Canada upped 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. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, iA Financial presently has an average rating of "Hold" and an average price target of C$213.61.

iA Financial Stock Up 0.2%

Shares of iA Financial stock traded up C$0.43 on Thursday, reaching C$213.38. The stock had a trading volume of 238,746 shares, compared to its average volume of 340,104. The stock has a market capitalization of C$19.05 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.26 and a beta of 0.92. iA Financial has a 1 year low of C$140.34 and a 1 year high of C$223.72. 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 company has a 50 day moving average price of C$194.37 and a 200 day moving average price of C$174.48.

iA Financial (TSE:IAG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported C$3.68 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 research analysts forecast that iA Financial will post 11.6187564 EPS for the current year.

Insider Transactions at iA Financial

In other iA Financial news, insider Alain Bergeron sold 700 shares of the company's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$195.40, for a total transaction of C$136,780.00. Also, insider Pierre Miron sold 15,000 shares of the business's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the transaction, the insider directly owned 4,900 shares of the company's stock, valued at approximately C$857,010. This represents a 75.38% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 39,500 shares of company stock valued at $7,156,765. 0.09% of the stock is currently 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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