iA Financial (TSE:IAG) Given New C$198.52 Price Target at Scotiabank

iA Financial (TSE:IAG) had its price objective upped by research analysts at Scotiabank from C$168.00 to C$198.52 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential downside of 4.60% from the company’s previous close.

IAG has been the subject of several other research reports. Desjardins upped their target price on shares of 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. National Bank Financial reduced their price target on iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. TD Securities cut iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Canadian Imperial Bank of Commerce upped their price objective on iA Financial from C$180.00 to C$208.00 in a report on Wednesday. Finally, Scotia cut their target price on iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Nine analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of C$183.17.

iA Financial Trading Up 2.4%

Shares of TSE IAG traded up C$4.78 during mid-day trading on Wednesday, hitting C$208.10. The company’s stock had a trading volume of 152,845 shares, compared to its average volume of 338,586. The stock has a market cap of C$18.58 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17. iA Financial has a one year low of C$133.36 and a one year high of C$208.38. The company’s fifty day simple moving average is C$182.44 and its 200-day simple moving average is C$171.30.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 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 during the quarter. On average, sell-side analysts anticipate that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insider Transactions at iA Financial

In other news, insider Alain Bergeron sold 1,300 shares of iA Financial 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. Also, insider Pierre Miron sold 15,000 shares of the business’s 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 completion of the transaction, the insider directly owned 4,900 shares of the company’s stock, valued at C$857,010. This trade represents a 75.38% decrease in their position. Insiders have sold a total of 39,500 shares of company stock valued at $7,156,765 over the last three months. 0.09% of the stock is currently owned by corporate 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