iA Financial (TSE:IAG) Cut to Hold at TD Securities

Key Points

• TD Securities downgraded iA Financial (TSE:IAG) from "strong-buy"/"buy" to a "hold" and cut its target from C$193 to C$190, and the stock carries a consensus Hold rating with an average price target of C$179.44.
• Shares opened at C$159.21 (reported down 9.5%), the company has a C$14.46B market cap and a PE of 14.1, reported Q earnings of C$3.25 on C$2.74B revenue, and insiders boosted positions with purchases in February.

iA Financial (TSE:IAG - Get Free Report) was downgraded by equities researchers at TD Securities from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Other research analysts have also issued research reports about the company. TD lowered iA Financial from a "buy" rating to a "hold" rating and reduced their target price for the company from C$193.00 to C$190.00 in a report on Wednesday. Scotia boosted their price target on shares of iA Financial from C$174.00 to C$183.00 in a research report on Wednesday, April 29th. BMO Capital Markets reduced their price target on shares of iA Financial from C$185.00 to C$175.00 in a research report on Thursday, February 19th. Royal Bank Of Canada set a C$167.00 price target on shares of iA Financial and gave the company a "sector perform" rating in a research report on Monday, January 19th. Finally, Desjardins boosted their price target on shares of iA Financial from C$173.00 to C$174.00 and gave the company a "hold" rating in a research report on Friday, April 17th. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of C$179.44.

iA Financial Stock Down 9.5%

IAG stock opened at C$159.21 on Wednesday. The firm has a market capitalization of C$14.46 billion, a PE ratio of 14.10, a PEG ratio of 1.26 and a beta of 0.92. iA Financial has a twelve month low of C$129.24 and a twelve month high of C$182.99. The stock has a 50-day simple moving average of C$159.67 and a two-hundred day simple moving average of C$165.75.

iA Financial (TSE:IAG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share for the quarter. The business had revenue of C$2.74 billion during the quarter. iA Financial had a return on equity of 13.62% and a net margin of 10.11%. On average, equities research analysts anticipate that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insider Buying and Selling at iA Financial

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