iA Financial (TSE:IAG) Reaches New 52-Week High - What's Next?

Key Points

• iA Financial hit a new 52-week high, reaching C$223.72 and trading near C$222.49, up 3.9% from its previous close. Its market capitalization is approximately C$19.22 billion.
• Analysts remain cautious despite the rally: all eight analysts rate the stock “Hold,” with a consensus price target of C$188.72, below its current trading level.
• The company reported quarterly EPS of C$3.68, with a 12.80% return on equity and a 9.87% net margin. Insiders have sold 39,500 shares worth about C$7.16 million over the past three months.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as C$223.72 and last traded at C$222.49, with a volume of 37098 shares trading hands. The stock had previously closed at C$207.12.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on IAG shares. TD Securities downgraded shares of iA Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Scotia lowered 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 report on Thursday, May 7th. Canadian Imperial Bank of Commerce increased their price objective on iA Financial from C$180.00 to C$208.00 in a report on Wednesday, July 15th. Scotiabank boosted their target price on iA Financial from C$168.00 to C$198.52 and gave the company a "sector perform" rating in a research note on Wednesday, July 15th. Finally, TD raised their price target on iA Financial from C$190.00 to C$214.00 and gave the stock a "hold" rating in a research note on Tuesday, July 21st. Eight investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of C$188.72.

iA Financial Trading Up 3.9%

The firm's 50 day moving average price is C$193.53 and its 200-day moving average price is C$174.26. The stock has a market cap of C$19.22 billion, a P/E ratio of 19.93, 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 current ratio of 0.60 and a quick ratio of 0.17.

iA Financial (TSE:IAG - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported C$3.68 EPS 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 Co. Inc. will post 11.6187564 earnings per share for the current year.

Insider Buying and Selling

In other iA Financial news, insider Pierre Miron sold 15,000 shares of the firm'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 sale, the insider owned 4,900 shares in the company, valued at approximately C$857,010. This trade represents a 75.38% decrease in their position. Also, insider Alain Bergeron sold 1,300 shares of iA Financial stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of C$189.20, for a total transaction of C$245,960.00. In the last three months, insiders have sold 39,500 shares of company stock valued at $7,156,765. 0.09% of the stock is 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

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.

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