iA Financial (TSE:IAG) Hits New 52-Week High Following Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG)’s stock price reached a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$178.00 to C$192.00. The company traded as high as C$181.99 and last traded at C$181.90, with a volume of 182328 shares changing hands. The stock had previously closed at C$177.61.

IAG has been the topic of a number of other research reports. Desjardins lifted their target price on shares of iA Financial from C$149.00 to C$163.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Cibc Captl Mkts cut iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. National Bankshares upped their target price on iA Financial from C$146.00 to C$162.00 and gave the stock a “sector perform” rating in a report on Monday, October 20th. CIBC upgraded iA Financial from a “neutral” rating to an “outperform” rating and raised their target price for the company from C$175.00 to C$184.00 in a research note on Thursday, January 8th. Finally, BMO Capital Markets lifted their price target on iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$169.00.

Insider Activity

In related news, Director Denis Ricard sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of C$175.25, for a total transaction of C$525,750.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at C$8,762,500. This trade represents a 5.66% decrease in their ownership of the stock. Also, insider Philippe Sarfati sold 2,318 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of C$164.30, for a total transaction of C$380,847.40. Insiders sold 6,750 shares of company stock valued at $1,141,931 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

iA Financial Stock Performance

The firm has a market cap of C$16.76 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.26 and a beta of 1.03. The business’s 50-day simple moving average is C$171.61 and its 200 day simple moving average is C$158.44.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, November 4th. The company reported C$3.47 earnings per share (EPS) for the quarter. The firm had revenue of C$6.67 billion for the quarter. iA Financial had a return on equity of 13.73% and a net margin of 6.85%. As a group, equities research analysts expect that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

iA Financial Company Profile

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.