iA Financial (TSE:IAG) Hits New 52-Week High – Should You Buy?

iA Financial Co. Inc. (TSE:IAG)’s share price reached a new 52-week high on Monday . The company traded as high as C$182.09 and last traded at C$182.15, with a volume of 64218 shares changing hands. The stock had previously closed at C$178.83.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. TD cut shares of iA Financial from a “buy” rating to a “hold” rating and lowered their target price for the company from C$193.00 to C$190.00 in a report on Wednesday, May 6th. Desjardins lifted their price target on iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a research report on Friday, April 17th. TD Securities lowered iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. National Bank Financial dropped 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 report on Wednesday, May 6th. Finally, Scotiabank cut their target price on iA Financial from C$188.00 to C$174.00 in a research note on Thursday, February 19th. Nine research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$177.78.

iA Financial Stock Up 2.4%

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 firm has a market cap of C$16.35 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97. The stock’s fifty day moving average is C$170.90 and its two-hundred day moving average is C$167.46.

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

Insiders Place Their Bets

In related news, insider Renée Laflamme sold 10,000 shares of iA Financial stock in a transaction on Friday, May 22nd. The stock was sold at an average price of C$174.04, for a total transaction of C$1,740,400.00. Following the completion of the sale, the insider owned 11,645 shares of the company’s stock, valued at approximately C$2,026,695.80. This trade represents a 46.20% decrease in their ownership of the stock. Also, 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 value of C$2,623,500.00. Following the sale, the insider directly owned 4,900 shares of the company’s stock, valued at C$857,010. This represents a 75.38% decrease in their position. Company insiders own 0.09% of the company’s stock.

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