iA Financial (TSE:IAG) Price Target Raised to C$216.00

Key Points

• National Bank Financial raised iA Financial’s price target to C$216 from C$205 while maintaining a “sector perform” rating, implying roughly 1.3% upside from the reported C$213.22 share price.
• Analyst sentiment remains cautious: eight analysts rate the stock “Hold,” resulting in a consensus “Hold” rating and an average price target of C$190.39.
• iA Financial reported quarterly EPS of C$3.68, with a 12.80% return on equity and 9.87% net margin. The stock has climbed significantly from its 52-week low of C$138.38 but remains below its C$223.72 high.

iA Financial (TSE:IAG - Get Free Report) had its price target hoisted by equities researchers at National Bank Financial from C$205.00 to C$216.00 in a research note issued on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's price target suggests a potential upside of 1.30% from the company's current price.

Other analysts also recently issued reports about the company. Scotia reduced their price target on 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. Scotiabank increased their price objective on iA Financial from C$168.00 to C$198.52 and gave the stock a "sector perform" rating in a research report on Wednesday, July 15th. Desjardins lifted their target price on iA Financial from C$173.00 to C$174.00 and gave the stock a "hold" rating in a report on Friday, April 17th. Canadian Imperial Bank of Commerce upped their price target on shares of iA Financial from C$180.00 to C$208.00 in a research note on Wednesday, July 15th. Finally, TD Securities cut shares of iA Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Eight research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of C$190.39.

iA Financial Stock Performance

IAG traded up C$6.10 on Wednesday, reaching C$213.22. The company had a trading volume of 259,248 shares, compared to its average volume of 339,021. The stock has a market cap of C$19.04 billion, a P/E ratio of 19.74, a P/E/G ratio of 1.26 and a beta of 0.91. The company has a debt-to-equity ratio of 18.46, a quick ratio of 0.17 and a current ratio of 0.60. iA Financial has a fifty-two week low of C$138.38 and a fifty-two week high of C$223.72. The company's fifty day moving average is C$193.53 and its 200 day moving average is C$174.26.

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

Insider Buying and Selling at iA Financial

In other news, insider Pierre Miron sold 15,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of C$174.90, for a total transaction of C$2,623,500.00. Following the completion of the sale, the insider owned 4,900 shares of the company's stock, valued at approximately C$857,010. This represents a 75.38% decrease in their position. Also, insider Renée Laflamme sold 12,500 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of C$192.81, for a total transaction of C$2,410,125.00. Following the sale, the insider directly 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 have sold a total of 39,500 shares of company stock valued at $7,156,765 in the last ninety days. 0.09% of the stock is currently owned by company insiders.

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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