Royal Bank Of Canada Boosts iA Financial (TSE:IAG) Price Target to C$151.00

Key Points

• Royal Bank of Canada has raised its price target for iA Financial from C$142.00 to C$151.00, which indicates a potential upside of 6.64% based on the stock's previous close.
• Other analysts, including BMO Capital Markets and TD Securities, have also adjusted their price targets for iA Financial, with the stock receiving a consensus rating of "Moderate Buy."
• Insider selling activity has been noted, with one director selling 8,000 shares for over C$1 million, raising concerns about insider confidence in the stock.

iA Financial (TSE:IAG - Get Free Report) had its price objective upped by research analysts at Royal Bank Of Canada from C$142.00 to C$151.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 6.89% from the stock's current price.

IAG has been the subject of a number of other reports. National Bankshares upped their price target on shares of iA Financial from C$141.00 to C$146.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Scotiabank raised shares of iA Financial to a "strong-buy" rating in a research note on Thursday, July 31st. BMO Capital Markets boosted their price target on shares of iA Financial from C$148.00 to C$160.00 in a report on Friday, July 11th. TD Securities lifted their target price on shares of iA Financial from C$140.00 to C$147.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, Cormark cut iA Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of C$145.88.

iA Financial Stock Performance

Shares of TSE IAG traded down C$1.17 during midday trading on Thursday, hitting C$141.27. The company's stock had a trading volume of 231,183 shares, compared to its average volume of 252,778. iA Financial has a 1-year low of C$96.00 and a 1-year high of C$151.29. The firm's fifty day moving average price is C$142.92 and its 200-day moving average price is C$135.95. The firm has a market cap of C$13.25 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.26 and a beta of 1.13.

Insider Buying and Selling at iA Financial

In other news, Director Denis Ricard sold 8,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of C$143.00, for a total transaction of C$1,144,000.00. Also, Senior Officer Renée Laflamme sold 10,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of C$136.33, for a total transaction of C$1,363,264.00. Insiders have sold a total of 44,000 shares of company stock worth $6,151,244 over the last quarter. 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.