iA Financial (TSE:IAG) Price Target Raised to C$223.00

Key Points

• Scotia raised iA Financial’s price target to C$223 from C$198.52 while maintaining a “sector perform” rating, implying 4.51% upside from the previous close.
• Analyst sentiment remains cautious: iA Financial has a consensus “Hold” rating from nine analysts and an average target price of C$213.61, though BMO upgraded its target to C$225 with an “outperform” rating.
• The stock traded at C$213.38, near its 52-week high of C$223.72. Recent quarterly EPS was C$3.68, while insiders sold 39,500 shares worth approximately C$7.16 million over the past 90 days.

iA Financial (TSE:IAG - Get Free Report) had its price objective lifted by stock analysts at Scotia from C$198.52 to C$223.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotia's price objective suggests a potential upside of 4.51% from the stock's previous close.

Other analysts have also recently issued reports about the company. BMO Capital Markets upped their target price on iA Financial from C$215.00 to C$225.00 and gave the company an "outperform" rating in a report on Thursday. Desjardins increased their price objective on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a "hold" rating in a research report on Friday, April 17th. Royal Bank Of Canada increased their target price on iA Financial from C$167.00 to C$213.00 and gave the stock a "sector perform" rating in a report on Thursday. Canadian Imperial Bank of Commerce lifted their price target on shares of iA Financial from C$180.00 to C$208.00 in a research report on Wednesday, July 15th. Finally, TD Securities downgraded shares of iA Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of C$213.61.

iA Financial Trading Up 0.2%

Shares of IAG stock traded up C$0.43 during mid-day trading on Thursday, reaching C$213.38. 238,746 shares of the stock traded hands, compared to its average volume of 340,104. The company has a market cap of C$19.05 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. The stock's fifty day simple moving average is C$194.37 and its two-hundred day simple moving average is C$174.48. iA Financial has a 1-year low of C$140.34 and a 1-year high of C$223.72.

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 net margin of 9.87% and a return on equity of 12.80%. On average, research analysts anticipate that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insider Transactions at iA Financial

In related news, 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 completion of the sale, the insider owned 11,645 shares in the company, valued at approximately C$2,245,272.45. This trade represents a 51.77% decrease in their ownership of the stock. Also, insider Alain Bergeron sold 700 shares of iA Financial stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$195.40, for a total transaction of C$136,780.00. Insiders have sold 39,500 shares of company stock worth $7,156,765 in the last ninety days. Company insiders own 0.09% of the company's stock.

iA Financial Company Profile

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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