iA Financial (TSE:IAG) Hits New 52-Week High – Still a Buy?

Shares of iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$196.16 and last traded at C$195.83, with a volume of 200683 shares trading hands. The stock had previously closed at C$195.83.

Wall Street Analyst Weigh In

IAG has been the subject of several recent analyst reports. TD lowered iA Financial from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$193.00 to C$190.00 in a research note on Wednesday, May 6th. Scotia lowered their target price on shares of iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating on the stock in a report on Thursday, May 7th. Desjardins increased their target price on shares of iA Financial from C$173.00 to C$174.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. National Bank Financial cut their price target on shares of iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating for the company in a report on Wednesday, May 6th. Finally, TD Securities lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of C$177.78.

iA Financial Stock Performance

The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17. The company has a market cap of C$17.48 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97. The stock has a 50-day moving average price of C$176.84 and a 200 day moving average price of C$169.47.

iA Financial (TSE:IAG) last posted its quarterly earnings data 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 during the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. As a group, analysts anticipate that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

Insider Buying and Selling

In other iA Financial news, insider Pierre Miron sold 15,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of C$174.90, for a total transaction of C$2,623,500.00. Following the transaction, the insider owned 4,900 shares in the company, valued at C$857,010. This trade represents a 75.38% decrease in their position. Also, insider Alain Bergeron sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of C$189.20, for a total transaction of C$245,960.00. In the last ninety days, insiders sold 38,800 shares of company stock valued at $7,019,985. 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