iA Financial (TSE:IAG) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

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 brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 5.40% from the company's current price.

Several other analysts have also recently weighed in on IAG. BMO Capital Markets boosted their price objective on shares of iA Financial from C$148.00 to C$160.00 in a research note on Friday, July 11th. CIBC lowered their target price on shares of iA Financial from C$149.00 to C$144.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. TD Securities increased their price objective 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. Cormark downgraded shares of iA Financial from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Desjardins raised their price objective on shares of iA Financial from C$147.00 to C$149.00 and gave the stock a "hold" rating in a report on Thursday. Five analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$145.88.

iA Financial Stock Up 1.4%

Shares of TSE:IAG traded up C$2.00 during trading on Thursday, hitting C$143.27. 249,182 shares of the company were exchanged, compared to its average volume of 252,754. iA Financial has a 1-year low of C$97.00 and a 1-year high of C$151.29. The company has a market capitalization of C$13.44 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The business's 50 day moving average is C$143.00 and its 200-day moving average is C$136.03.

Insider Buying and Selling at iA Financial

In other iA Financial news, Senior Officer Éric Jobin sold 1,500 shares of iA Financial stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of C$142.89, for a total value of C$214,341.00. Also, Senior Officer Pierre Miron sold 15,000 shares of the business's stock in a transaction that occurred on Monday, May 26th. The shares were sold at an average price of C$140.29, for a total transaction of C$2,104,389.00. Over the last quarter, insiders sold 34,000 shares of company stock valued at $4,787,980. Corporate 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.