iA Financial (TSE:IAG) Stock Price Down 6.9% After Analyst Downgrade

iA Financial Co. Inc. (TSE:IAG)’s share price traded down 6.9% on Wednesday after National Bank Financial lowered their price target on the stock from C$181.00 to C$179.00. National Bank Financial currently has a sector perform rating on the stock. iA Financial traded as low as C$157.17 and last traded at C$163.83. 135,280 shares were traded during mid-day trading, a decline of 61% from the average session volume of 351,336 shares. The stock had previously closed at C$176.00.

Several other equities analysts have also recently commented on the stock. Scotia boosted their target price on shares of iA Financial from C$174.00 to C$183.00 in a research report on Wednesday, April 29th. Royal Bank Of Canada set a C$167.00 target price on shares of iA Financial and gave the company a “sector perform” rating in a research report on Monday, January 19th. Scotiabank dropped their target price on shares of iA Financial from C$188.00 to C$174.00 in a research report on Thursday, February 19th. BMO Capital Markets dropped their target price on shares of iA Financial from C$185.00 to C$175.00 in a research report on Thursday, February 19th. Finally, TD Securities dropped their target price on shares of iA Financial from C$192.00 to C$189.00 and set a “buy” rating for the company in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, iA Financial has an average rating of “Hold” and an average target price of C$179.44.

Insider Activity at iA Financial

In related news, Director Denis Ricard purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were bought at an average cost of C$152.00 per share, with a total value of C$912,000.00. Following the acquisition, the director owned 56,000 shares of the company’s stock, valued at C$8,512,000. This trade represents a 12.00% increase in their position. Also, insider Ï¿½Ric Jobin purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The shares were bought at an average cost of C$151.82 per share, for a total transaction of C$151,820.00. Following the completion of the acquisition, the insider directly owned 1,941 shares in the company, valued at C$294,682.62. The trade was a 106.27% increase in their position. Insiders own 0.09% of the company’s stock.

iA Financial Stock Performance

The stock has a market capitalization of C$14.46 billion, a P/E ratio of 14.10, a price-to-earnings-growth ratio of 1.26 and a beta of 0.92. The stock’s fifty day simple moving average is C$159.56 and its two-hundred day simple moving average is C$165.73.

iA Financial (TSE:IAG) last posted its earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share for the quarter. iA Financial had a net margin of 10.11% and a return on equity of 13.62%. The firm had revenue of C$2.74 billion for the quarter. As a group, analysts expect that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current fiscal year.

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