iA Financial (TSE:IAG) Price Target Raised to C$213.00

Key Points

• Royal Bank of Canada raised iA Financial’s price target from C$167 to C$213 while maintaining a “sector perform” rating. The new target implies approximately 0.18% downside from the stock’s C$213.38 closing price.
• Analyst sentiment remains cautious: one analyst rates iA Financial a Buy and eight rate it Hold, producing a consensus rating of “Hold” and an average price target of C$213.61.
• The shares rose 0.2% to C$213.38 and are near their 12-month high of C$223.72. Insiders sold 39,500 shares worth approximately C$7.16 million over the past three months.

iA Financial (TSE:IAG - Get Free Report) had its target price increased by Royal Bank Of Canada from C$167.00 to C$213.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective points to a potential downside of 0.18% from the company's current price.

Other equities research analysts have also issued reports about the stock. Scotiabank raised their price target on shares of iA Financial from C$168.00 to C$198.52 and gave the company a "sector perform" rating in a report on Wednesday, July 15th. TD boosted their price objective on shares of iA Financial from C$214.00 to C$218.00 and gave the stock a "hold" rating in a report on Wednesday. Desjardins upped 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 research report on Friday, April 17th. National Bank Financial lifted their target price on iA Financial from C$205.00 to C$216.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, Canadian Imperial Bank of Commerce boosted their price target on iA Financial from C$180.00 to C$208.00 in a research note on Wednesday, July 15th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, iA Financial has an average rating of "Hold" and a consensus price target of C$213.61.

iA Financial Stock Up 0.2%

Shares of TSE IAG traded up C$0.43 on Thursday, hitting C$213.38. The company had a trading volume of 238,746 shares, compared to its average volume of 340,104. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. iA Financial has a 12-month low of C$140.34 and a 12-month high of C$223.72. The firm has a market capitalization of C$19.05 billion, a P/E ratio of 19.76, a PEG ratio of 1.26 and a beta of 0.92. The business has a 50 day moving average of C$194.37 and a two-hundred day moving average of C$174.48.

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

Insider Activity

In other iA Financial news, insider Alain Bergeron sold 1,300 shares of the company's stock in a transaction that occurred 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 firm's stock in a transaction dated 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 of the company's stock, valued at approximately C$2,245,272.45. This trade represents a 51.77% decrease in their position. Insiders sold 39,500 shares of company stock worth $7,156,765 over the last three months. Corporate 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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source