iA Financial (TSE:IAG) Reaches New 1-Year High - What's Next?

Key Points

• iA Financial's stock reached a new 52-week high of C$158.25, closing at C$156.84 with a trading volume of 51,075 shares.
• Several analysts have raised their price targets for iA Financial, with BMO Capital Markets increasing theirs from C$148.00 to C$160.00, while the stock has an average price target of C$145.88.
• Insiders have sold significant amounts of stock recently, with insider St�Phanie Butt Thibodeau and Pierre Miron selling shares valued at over C$3.4 million combined, indicating a decrease in insider ownership.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$158.25 and last traded at C$156.84, with a volume of 51075 shares. The stock had previously closed at C$157.18.

Analysts Set New Price Targets

IAG has been the subject of several research analyst reports. BMO Capital Markets raised their price objective on iA Financial from C$148.00 to C$160.00 in a research note on Friday, July 11th. Desjardins raised their price objective on iA Financial from C$147.00 to C$149.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. National Bankshares raised their price objective on iA Financial from C$141.00 to C$146.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Royal Bank Of Canada raised their price objective on iA Financial from C$142.00 to C$151.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, Scotiabank upgraded iA Financial to a "strong-buy" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$145.88.

iA Financial Stock Up 0.5%

The firm has a 50-day moving average of C$148.19 and a two-hundred day moving average of C$141.14. The company has a market capitalization of C$14.67 billion, a PE ratio of 14.75, a PEG ratio of 1.26 and a beta of 0.85.

Insider Activity at iA Financial

In related news, insider St�Phanie Butt Thibodeau sold 3,000 shares of iA Financial stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of C$149.00, for a total transaction of C$447,000.00. Also, insider Pierre Miron sold 20,000 shares of iA Financial stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of C$150.60, for a total value of C$3,011,960.00. Following the transaction, the insider owned 4,900 shares of the company's stock, valued at approximately C$737,930.20. This represents a 80.32% decrease in their ownership of the stock. 0.09% of the stock is currently owned by company insiders.

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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