iA Financial (TSE:IAG) Given New C$179.00 Price Target at National Bank Financial

Key Points

• National Bank Financial lowered its price target on iA Financial to C$179 (from C$181) and maintained a "sector perform" rating; the stock's MarketBeat consensus is a Hold with an average price target of C$179.44 (one Buy, seven Hold).
• Shares slid C$17.12 to C$158.88 on elevated volume, trading slightly below its 50-day (C$159.56) and 200-day (C$165.73) moving averages; the company trades at a PE of 14.07 with a market cap of C$14.43 billion.
• Insiders increased positions in February—Ric Jobin bought 1,000 shares and director Denis Ricard bought 6,000 shares—although insiders collectively own only 0.09% of the stock.

iA Financial (TSE:IAG - Get Free Report) had its price target lowered by investment analysts at National Bank Financial from C$181.00 to C$179.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price objective points to a potential upside of 12.66% from the stock's current price.

Several other equities analysts have also commented on the stock. BMO Capital Markets decreased their price objective on shares of iA Financial from C$185.00 to C$175.00 in a report on Thursday, February 19th. Royal Bank Of Canada set a C$167.00 price objective on shares of iA Financial and gave the stock a "sector perform" rating in a report on Monday, January 19th. Canadian Imperial Bank of Commerce lowered shares of iA Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 8th. Desjardins upped their price objective on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a "hold" rating in a report on Friday, April 17th. Finally, Scotia upped their price objective on shares of iA Financial from C$174.00 to C$183.00 in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$179.44.

iA Financial Price Performance

Shares of IAG stock traded down C$17.12 during trading hours on Wednesday, hitting C$158.88. The company had a trading volume of 580,401 shares, compared to its average volume of 357,144. The company's fifty day moving average is C$159.56 and its 200 day moving average is C$165.73. iA Financial has a fifty-two week low of C$129.24 and a fifty-two week high of C$182.99. The stock has a market capitalization of C$14.43 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92.

iA Financial (TSE:IAG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$3.25 EPS for the quarter. iA Financial had a net margin of 10.11% and a return on equity of 13.62%. The firm had revenue of C$2.74 billion for the quarter. Equities analysts forecast that iA Financial will post 11.6187564 earnings per share for the current year.

Insider Buying and Selling

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