Desjardins Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAG) had its price target hoisted by equities research analysts at Desjardins from C$205.00 to C$220.00 in a research note issued on Thursday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ target price would suggest a potential upside of 3.10% from the company’s previous close.

Several other research analysts have also recently issued reports on IAG. TD Securities cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. TD lifted their price target on shares of iA Financial from C$214.00 to C$218.00 and gave the stock a “hold” rating in a research note on Wednesday. Royal Bank Of Canada upped their price objective on shares of iA Financial from C$167.00 to C$213.00 and gave the company a “sector perform” rating in a research note on Thursday. Scotia lifted their target price on iA Financial from C$198.52 to C$223.00 and gave the stock a “sector perform” rating in a research report on Thursday. Finally, National Bank Financial boosted their target price on iA Financial from C$205.00 to C$216.00 and gave the company a “sector perform” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$213.61.

iA Financial Stock Up 0.2%

Shares of TSE IAG traded up C$0.43 during midday trading on Thursday, hitting C$213.38. 238,746 shares of the company’s stock were exchanged, compared to its average volume of 340,104. The firm’s fifty day simple moving average is C$194.37 and its 200-day simple moving average is C$174.48. The company has a market cap of C$19.05 billion, a PE ratio of 19.76, a P/E/G ratio of 1.26 and a beta of 0.92. iA Financial has a twelve month low of C$140.34 and a twelve month high of C$223.72. The company has a debt-to-equity ratio of 18.46, a current ratio of 0.60 and a quick ratio of 0.17.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. iA Financial had a return on equity of 12.80% and a net margin of 9.87%. Research analysts predict that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Pierre Miron sold 15,000 shares of iA Financial stock in a transaction on Friday, June 5th. The shares were sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the transaction, the insider directly 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 700 shares of iA Financial stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of C$195.40, for a total transaction of C$136,780.00. In the last ninety days, insiders sold 39,500 shares of company stock valued at $7,156,765. 0.09% of the stock is owned by company insiders.

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