iA Financial (TSE:IAG) Hits New 12-Month High - Here's What Happened

Key Points

• iA Financial shares reached a new 52-week high of C$163.10, closing at C$162.88 with a trading volume of 33,437 shares, showing strong market activity.
• Several Wall Street analysts have recently upgraded their price targets for iA Financial, with national banks increasing targets up to C$175.00 and maintaining a generally positive outlook.
• Insider transactions revealed significant selling, with one insider offloading 20,000 shares at an average price of C$150.60, indicating a notable decrease in ownership.

iA Financial Co. Inc. (TSE:IAG - Get Free Report) shares reached a new 52-week high on Friday . The company traded as high as C$163.10 and last traded at C$162.88, with a volume of 33437 shares traded. The stock had previously closed at C$160.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IAG shares. National Bankshares boosted their price target on shares of iA Financial from C$146.00 to C$162.00 and gave the company a "sector perform" rating in a research note on Monday. BMO Capital Markets boosted their price target on shares of iA Financial from C$148.00 to C$160.00 in a research note on Friday, July 11th. TD Securities upped their target price on shares of iA Financial from C$158.00 to C$175.00 in a research note on Wednesday, October 8th. Scotiabank raised shares of iA Financial to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada upped their target price on shares of iA Financial from C$142.00 to C$151.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of C$153.13.

iA Financial Trading Up 1.5%

The stock has a market cap of C$15.13 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.26 and a beta of 0.89. The stock's 50 day moving average is C$154.31 and its two-hundred day moving average is C$144.19.

Insider Transactions at iA Financial

In other iA Financial news, insider Pierre Miron sold 20,000 shares of iA Financial stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of C$150.60, for a total transaction of C$3,011,960.00. Following the transaction, the insider directly owned 4,900 shares of the company's stock, valued at C$737,930.20. The trade was a 80.32% decrease in their ownership of the stock. Also, insider St�Phanie Butt Thibodeau sold 3,000 shares of the business's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of C$149.00, for a total transaction of C$447,000.00. Company insiders own 0.09% of the company's stock.

About iA Financial

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.

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