iA Financial (TSE:IAG) Hits New 52-Week High at $102.07

iA Financial Co. Inc. (TSE:IAG)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as C$102.07 and last traded at C$101.69, with a volume of 95437 shares changing hands. The stock had previously closed at C$100.44.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IAG shares. TD Securities boosted their price target on iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their target price on shares of iA Financial from C$102.00 to C$105.00 and gave the stock a “moderate buy” rating in a research report on Thursday, August 8th. Cormark boosted their price target on iA Financial from C$103.00 to C$105.00 in a research report on Friday, May 10th. Scotiabank increased their price objective on iA Financial from C$100.00 to C$110.00 in a report on Thursday, August 8th. Finally, CIBC boosted their target price on iA Financial from C$100.00 to C$106.00 in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$105.25.

iA Financial Stock Performance

The company has a market cap of C$9.70 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.26 and a beta of 1.12. The firm’s fifty day moving average price is C$90.62 and its 200-day moving average price is C$88.46. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39.

iA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be paid a $0.82 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $3.28 annualized dividend and a dividend yield of ∞. iA Financial’s dividend payout ratio is currently 43.91%.

Insider Transactions at iA Financial

In related news, Senior Officer Alain Bergeron sold 5,000 shares of the firm’s stock in a transaction on Monday, May 27th. The stock was sold at an average price of C$93.42, for a total transaction of C$467,091.50. Following the completion of the sale, the insider now directly owns 500 shares of the company’s stock, valued at approximately C$46,709.15. 0.09% of the stock is owned by insiders.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.