iA Financial (TSE:IAG) Hits New 52-Week High - Here's Why

Key Points

• iA Financial shares hit a new 52-week high, trading as high as C$206.84 and ending the day up about 2.3%.
• Despite the stock’s strength, analyst sentiment remains cautious: several firms recently cut price targets or downgraded the stock, and the consensus rating is still Hold with a target of C$177.78.
• The company reported C$3.25 EPS and C$2.74 billion in quarterly revenue, while insiders have been selling shares, including sizable recent transactions by Alain Bergeron and Renée Laflamme.

iA Financial Co. Inc. (TSE:IAG - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$206.84 and last traded at C$206.84, with a volume of 75691 shares trading hands. The stock had previously closed at C$203.32.

Wall Street Analyst Weigh In

A number of analysts have weighed in on IAG shares. TD Securities cut shares of iA Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. TD downgraded shares of iA Financial from a "buy" rating to a "hold" rating and dropped their target price for the company from C$193.00 to C$190.00 in a research report on Wednesday, May 6th. Desjardins lifted their price target on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a "hold" rating in a research note on Friday, April 17th. National Bank Financial reduced their price target on shares of iA Financial from C$181.00 to C$179.00 and set a "sector perform" rating for the company in a research report on Wednesday, May 6th. Finally, Scotia decreased their price objective on shares of iA Financial from C$183.00 to C$168.00 and set a "sector perform" rating for the company in a research note on Thursday, May 7th. Nine research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of C$177.78.

iA Financial Stock Up 2.3%

The company has a debt-to-equity ratio of 18.46, a quick ratio of 0.17 and a current ratio of 0.60. The firm has a market capitalization of C$18.57 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.26 and a beta of 0.91. The firm has a fifty day moving average price of C$182.44 and a 200 day moving average price of C$171.30.

iA Financial (TSE:IAG - Get Free Report) last released its quarterly 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 for the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. As a group, sell-side analysts expect that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

Insider Activity

In other iA Financial news, insider Alain Bergeron sold 1,300 shares of the business's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of C$189.20, for a total value of C$245,960.00. Also, insider Renée Laflamme sold 12,500 shares of the company's stock in a transaction on Friday, June 26th. The shares were sold at an average price of C$192.81, for a total value of C$2,410,125.00. Following the completion of the transaction, the insider owned 11,645 shares of the company's stock, valued at C$2,245,272.45. The trade was a 51.77% decrease in their ownership of the stock. Insiders sold a total of 39,500 shares of company stock valued at $7,156,765 over the last 90 days. Insiders own 0.09% of the company's stock.

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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