iA Financial (TSE:IAG) Raised to Strong-Buy at Scotiabank

Key Points

• iA Financial has been upgraded to a "strong-buy" rating by Scotiabank, indicating a positive outlook for the stock's future performance.
• BMO Capital Markets raised their target price for iA Financial from C$148.00 to C$160.00, reflecting increased confidence among analysts regarding the company’s market position.
• Insider transactions have occurred recently, with directors selling shares totaling over C$6 million in value, which could indicate varying perspectives on the company's short-term performance.

iA Financial (TSE:IAG - Get Free Report) was upgraded by equities researchers at Scotiabank to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

IAG has been the subject of a number of other reports. BMO Capital Markets increased their target price on iA Financial from C$148.00 to C$160.00 in a research note on Friday, July 11th. Royal Bank Of Canada set a C$141.00 price objective on iA Financial and gave the company a "sector perform" rating in a research note on Tuesday, April 15th. TD Securities raised their price objective on 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 iA Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday. Finally, CIBC dropped their price objective on iA Financial from C$149.00 to C$144.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$141.00.

iA Financial Trading Down 0.2%

Shares of IAG stock opened at C$135.34 on Thursday. The company has a market cap of C$12.70 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The stock has a 50 day simple moving average of C$143.07 and a 200-day simple moving average of C$135.58. iA Financial has a 12-month low of C$86.92 and a 12-month high of C$151.29.

Insider Buying and Selling

In other iA Financial news, Director Denis Ricard sold 8,000 shares of the stock in a transaction on Friday, May 16th. The stock was 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 stock in a transaction on Monday, May 12th. The shares were sold at an average price of C$136.33, for a total value of C$1,363,264.00. Insiders have sold a total of 44,000 shares of company stock worth $6,151,244 in the last 90 days. 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.

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