iA Financial (TSE:IAG) Downgraded by Scotiabank to “Sector Perform”

iA Financial (TSE:IAG) was downgraded by Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. They presently have a C$188.00 price objective on the stock. Scotiabank’s target price indicates a potential upside of 25.81% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets upped their price target on iA Financial from C$170.00 to C$175.00 in a report on Thursday, November 6th. Canadian Imperial Bank of Commerce downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. TD Securities increased their price objective on shares of iA Financial from C$178.00 to C$192.00 in a research report on Wednesday, January 14th. Royal Bank Of Canada set a C$167.00 target price on shares of iA Financial and gave the stock a “sector perform” rating in a research note on Monday, January 19th. Finally, National Bank Financial cut their price target on iA Financial from C$190.00 to C$181.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of C$178.14.

iA Financial Stock Performance

Shares of IAG traded down C$20.63 during mid-day trading on Wednesday, hitting C$149.43. 882,276 shares of the company’s stock were exchanged, compared to its average volume of 314,609. The stock’s 50-day moving average is C$174.07 and its 200-day moving average is C$163.03. iA Financial has a fifty-two week low of C$115.21 and a fifty-two week high of C$182.99. The company has a market cap of C$13.77 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.26 and a beta of 1.02.

iA Financial (TSE:IAG) last announced its earnings results on Tuesday, February 17th. The company reported C$3.10 earnings per share for the quarter. The firm had revenue of C$3.23 billion for 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 anticipate that iA Financial will post 11.6187564 EPS for the current year.

Insider Activity

In other news, Director Denis Ricard sold 3,000 shares of iA Financial stock in a transaction 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 directly owned 50,000 shares of the company’s stock, valued at C$8,762,500. The trade was a 5.66% decrease in their position. Company insiders own 0.09% of the company’s stock.

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.