iA Financial (TSE:IAG) Hits New 52-Week High – Here’s Why

iA Financial Co. Inc. (TSE:IAG)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$206.84 and last traded at C$206.84, with a volume of 75691 shares trading hands. The stock had previously closed at C$203.32.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IAG. TD Securities cut iA Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. National Bank Financial reduced their target price on shares of iA Financial from C$181.00 to C$179.00 and set a “sector perform” rating on the stock in a research report on Wednesday, May 6th. TD downgraded shares of iA Financial from a “buy” rating to a “hold” rating and decreased their target price for the company from C$193.00 to C$190.00 in a research note on Wednesday, May 6th. Desjardins raised their price target on shares of iA Financial from C$173.00 to C$174.00 and gave the company a “hold” rating in a report on Friday, April 17th. Finally, Scotia dropped their price target on shares of iA Financial from C$183.00 to C$168.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Nine investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, iA Financial presently has a consensus 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 quick ratio of 0.17 and a current ratio of 0.60. The company has a market capitalization of C$18.57 billion, a PE ratio of 19.26, a PEG ratio of 1.26 and a beta of 0.91. The company has a 50 day moving average price of C$182.44 and a 200 day moving average price of C$171.30.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported C$3.25 earnings per share (EPS) for the quarter. The business had revenue of C$2.74 billion during the quarter. iA Financial had a net margin of 9.87% and a return on equity of 12.80%. Equities analysts forecast that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

Insider Transactions at iA Financial

In other news, insider Alain Bergeron sold 700 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of C$195.40, for a total transaction of C$136,780.00. Also, insider Pierre Miron sold 15,000 shares of iA Financial stock in a transaction dated Friday, June 5th. The stock was sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the completion of the transaction, the insider owned 4,900 shares of the company’s stock, valued at C$857,010. This trade represents a 75.38% decrease in their ownership of the stock. In the last 90 days, insiders sold 39,500 shares of company stock valued at $7,156,765. 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