TD Raises iA Financial (TSE:IAG) Price Target to C$214.00

Key Points

• TD raised its price target on iA Financial to C$214 from C$190, while keeping a Hold rating on the stock. The new target implies about 4.07% upside from the current share price.
• Analyst sentiment remains cautious overall: iA Financial has a consensus Hold rating and an average price target of C$185.84, even though a few firms recently adjusted their targets upward or downward.
• The stock recently traded at C$205.63, near its 52-week high of C$213.16, after the company reported quarterly EPS of C$3.25 and revenue of C$2.74 billion.

iA Financial (TSE:IAG - Get Free Report) had its price objective hoisted by TD from C$190.00 to C$214.00 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's price objective would indicate a potential upside of 4.07% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. 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. Scotia dropped 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. National Bank Financial reduced their price objective on iA Financial from C$181.00 to C$179.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 6th. TD Securities cut iA Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 6th. Finally, Scotiabank increased 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 report on Wednesday, July 15th. Nine analysts have rated the stock with a Hold rating, According to MarketBeat, iA Financial currently has a consensus rating of "Hold" and an average price target of C$185.84.

iA Financial Price Performance

Shares of TSE:IAG traded up C$0.31 during midday trading on Tuesday, reaching C$205.63. 121,548 shares of the company were exchanged, compared to its average volume of 337,006. The company has a current ratio of 0.60, a quick ratio of 0.17 and a debt-to-equity ratio of 18.46. The business's fifty day moving average is C$185.94 and its two-hundred day moving average is C$172.14. iA Financial has a one year low of C$133.36 and a one year high of C$213.16. The stock has a market cap of C$18.36 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91.

iA Financial (TSE:IAG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. The company had revenue of C$2.74 billion for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. As a group, analysts predict that iA Financial will post 11.6187564 earnings per share for the current year.

Insider Transactions at iA Financial

In other news, insider Renée Laflamme sold 12,500 shares of the business'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 transaction, the insider owned 11,645 shares of the company's stock, valued at approximately C$2,245,272.45. The trade was a 51.77% decrease in their position. Also, insider Alain Bergeron sold 1,300 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of C$189.20, for a total value of C$245,960.00. In the last 90 days, insiders sold 39,500 shares of company stock worth $7,156,765. 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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