iA Financial (TSE:IAG) Sets New 52-Week High – What’s Next?

iA Financial Co. Inc. (TSE:IAG)’s share price reached a new 52-week high during mid-day 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. The stock had previously closed at C$216.87.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IAG. Royal Bank Of Canada upped their target price on shares of iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a report on Thursday, August 6th. Scotia lifted their price target on shares of iA Financial from C$198.52 to C$223.00 and gave the company a “sector perform” rating in a report on Thursday, August 6th. Scotiabank upped their price objective on shares of iA Financial from C$168.00 to C$198.52 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. National Bank Financial dropped their price objective on shares of iA Financial from C$216.00 to C$215.00 and set a “sector perform” rating for the company in a report on Monday, October 19th. Finally, BMO Capital Markets lifted their target price on shares of iA Financial from C$215.00 to C$225.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$213.50.

iA Financial Price Performance

The stock has a 50 day moving average price of C$208.53 and a two-hundred day moving average price of C$185.11. The company has a market capitalization of C$18.62 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.26 and a beta of 0.74.

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

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