Scotia Issues Pessimistic Forecast for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its price target decreased by equities research analysts at Scotia from C$183.00 to C$168.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotia’s price target points to a potential upside of 1.15% from the company’s previous close.

Several other research firms also recently weighed in on IAG. National Bank Financial cut 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 note on Wednesday. Canadian Imperial Bank of Commerce downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Desjardins increased their target price on iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a research note on Friday, April 17th. BMO Capital Markets cut their target price on iA Financial from C$185.00 to C$175.00 in a research note on Thursday, February 19th. Finally, TD downgraded iA Financial from a “buy” rating to a “hold” rating and cut their target price for the company from C$193.00 to C$190.00 in a research note on Wednesday. Nine research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$177.78.

iA Financial Stock Performance

iA Financial stock opened at C$166.09 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 18.46. The company has a market capitalization of C$15.08 billion, a P/E ratio of 15.38, a PEG ratio of 1.26 and a beta of 0.92. The stock’s 50 day moving average is C$159.82 and its 200 day moving average is C$165.80. iA Financial has a twelve month low of C$133.00 and a twelve month high of C$182.99.

iA Financial (TSE:IAG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share for the quarter. The company had revenue of C$2.74 billion for the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. On average, equities research analysts predict that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insider Buying and Selling at iA Financial

In other iA Financial news, Director Denis Ricard bought 6,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average cost of C$152.00 per share, for a total transaction of C$912,000.00. Following the purchase, the director owned 56,000 shares in the company, valued at approximately C$8,512,000. This trade represents a 12.00% increase in their position. Also, insider Ï¿½Ric Jobin bought 1,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average price of C$151.82 per share, for a total transaction of C$151,820.00. Following the completion of the purchase, the insider owned 1,941 shares in the company, valued at approximately C$294,682.62. The trade was a 106.27% increase 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