iA Financial (TSE:IAG) Hits New 1-Year High – Should You Buy?

iA Financial Co. Inc. (TSE:IAG)’s share price hit a new 52-week high during trading on Wednesday. The stock traded as high as C$222.05 and last traded at C$221.52, with a volume of 168,764 shares changing hands. The stock had previously closed at C$216.87.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. National Bank Financial lowered their target price on shares of iA Financial from C$216.00 to C$215.00 and set a “sector perform” rating for the company in a research note on Monday, October 19th. Canadian Imperial Bank of Commerce raised their price target on shares of iA Financial from C$208.00 to C$220.00 in a research note on Thursday, August 6th. Desjardins boosted their price objective on shares of iA Financial from C$205.00 to C$220.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. BMO Capital Markets boosted their price objective on shares of iA Financial from C$215.00 to C$225.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Finally, TD upped their target price on iA Financial from C$214.00 to C$218.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of C$213.50.

iA Financial Price Performance

The stock has a fifty day moving average of C$207.81 and a 200 day moving average of C$184.72. The stock has a market cap of C$19.78 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.26 and a beta of 0.81.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. iA Financial had a net margin of 8.29% and a return on equity of 13.70%. The company had revenue of C$3.05 billion for the quarter. As a group, equities analysts expect that iA Financial Co. Inc. will post 11.62 earnings per share for the current fiscal year.

Insider Activity at iA Financial

In other news, insider Renée Laflamme sold 12,500 shares of the company’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of C$211.86, for a total value of C$2,648,250.00. Following the sale, the insider directly owned 11,645 shares of the company’s stock, valued at C$2,467,109.70. This represents a 51.77% decrease in their position. 0.09% of the stock is owned by company insiders.

iA Financial Company Profile

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