iA Financial (TSE:IAG) Stock Rating Lowered by Cibc Captl Mkts

iA Financial (TSE:IAG) was downgraded by research analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. National Bankshares upped their price objective on iA Financial from C$146.00 to C$162.00 and gave the company a “sector perform” rating in a research note on Monday, October 20th. Royal Bank Of Canada boosted their price target on shares of iA Financial from C$151.00 to C$167.00 in a report on Thursday, November 6th. BMO Capital Markets increased their target price on shares of iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. TD Securities lifted their price target on iA Financial from C$175.00 to C$178.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Desjardins lifted their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$167.00.

iA Financial Price Performance

TSE:IAG opened at C$179.67 on Thursday. The company has a market cap of C$16.56 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.26 and a beta of 1.03. The firm’s fifty day moving average price is C$170.90 and its two-hundred day moving average price is C$157.69. iA Financial has a one year low of C$115.21 and a one year high of C$182.11.

iA Financial (TSE:IAG) last posted its quarterly earnings data 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 during the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. As a group, equities research analysts expect that iA Financial will post 11.6187564 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Philippe Sarfati sold 2,318 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of C$164.30, for a total value of C$380,847.40. Also, Director Denis Ricard sold 3,000 shares of the 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 value of C$525,750.00. Following the transaction, the director owned 50,000 shares of the company’s stock, valued at C$8,762,500. This represents a 5.66% decrease in their ownership of the stock. Over the last quarter, insiders have sold 6,750 shares of company stock valued at $1,141,931. 0.09% of the stock is currently owned by corporate insiders.

About iA Financial

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.