iA Financial (TSE:IAG) Given New C$218.00 Price Target at TD

Key Points

• TD raised its price target for iA Financial from C$214 to C$218 but maintained a “hold” rating, implying roughly 2.24% upside from the prior close.
• Analyst sentiment remains cautious: MarketBeat reports a consensus “hold” rating from eight analysts, with an average price target of C$190.39.
• iA Financial shares rose to C$213.22 during Wednesday trading, near the company’s 52-week high, while the insurer reported quarterly EPS of C$3.68. Insiders have sold 39,500 shares worth about C$7.16 million over the past quarter.

iA Financial (TSE:IAG - Get Free Report) had its target price upped by analysts at TD from C$214.00 to C$218.00 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's price objective suggests a potential upside of 2.24% from the company's previous close.

A number of other brokerages have also issued reports on IAG. Desjardins increased their price objective on shares of iA Financial from C$173.00 to C$174.00 and gave the company a "hold" rating in a report on Friday, April 17th. Scotiabank upped their price objective on iA Financial from C$168.00 to C$198.52 and gave the stock a "sector perform" rating in a report on Wednesday, July 15th. National Bank Financial increased their target price on iA Financial from C$205.00 to C$216.00 and gave the company a "sector perform" rating in a research report on Wednesday. TD Securities lowered shares of iA Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, Scotia reduced their price target on shares of iA Financial from C$183.00 to C$168.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 7th. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, iA Financial has a consensus rating of "Hold" and an average price target of C$190.39.

iA Financial Stock Performance

TSE:IAG traded up C$6.10 during mid-day trading on Wednesday, hitting C$213.22. 259,248 shares of the company traded hands, compared to its average volume of 339,021. iA Financial has a one year low of C$138.38 and a one 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 firm has a market cap of C$19.04 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. The stock's fifty day moving average price is C$193.53 and its 200-day moving average price is C$174.26.

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

Insider Buying and Selling at iA Financial

In other iA Financial news, insider Renée Laflamme sold 12,500 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the transaction, the insider owned 11,645 shares in the company, valued at C$2,245,272.45. The trade was a 51.77% decrease in their ownership of the stock. Also, insider Pierre Miron sold 15,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$174.90, for a total transaction of C$2,623,500.00. Following the completion of the sale, the insider directly owned 4,900 shares in the company, valued at C$857,010. This trade represents a 75.38% decrease in their ownership of the stock. Insiders have sold 39,500 shares of company stock worth $7,156,765 over the last quarter. Insiders own 0.09% of the company's stock.

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

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