iA Financial (TSE:IAG) Sets New 1-Year High – Here’s Why

iA Financial Co. Inc. (TSE:IAG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$196.16 and last traded at C$195.83, with a volume of 200683 shares changing hands. The stock had previously closed at C$195.83.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of research analyst reports. Desjardins boosted their target price on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. TD lowered iA Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$193.00 to C$190.00 in a research note on Wednesday, May 6th. TD Securities downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Scotia decreased their target price 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. Finally, National Bank Financial lowered their target price on iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 6th. Nine analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of C$177.78.

iA Financial Stock Performance

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 simple moving average is C$176.84 and its two-hundred day simple moving average is C$169.47. The stock has a market capitalization of C$17.48 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.26 and a beta of 0.97.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. The company had revenue of C$2.74 billion for the quarter. As a group, 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 iA Financial stock in a transaction 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 C$857,010. The trade was a 75.38% decrease in their ownership of the stock. Also, insider Alain Bergeron sold 1,300 shares of the business’s 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. Insiders sold a total of 38,800 shares of company stock valued at $7,019,985 over the last ninety days. 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