iA Financial (TSE:IAG) Rating Lowered to “Hold” at Scotiabank

Scotiabank lowered shares of iA Financial (TSE:IAG) from a strong-buy rating to a hold rating in a research report released on Monday morning,Zacks.com reports.

Other equities research analysts have also issued research reports about the stock. Cormark boosted their price target on shares of iA Financial from C$127.00 to C$130.00 in a report on Wednesday, November 6th. Cibc World Mkts raised shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets increased their target price on iA Financial from C$126.00 to C$140.00 in a report on Thursday, November 7th. Royal Bank of Canada lowered iA Financial from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$105.00 to C$137.00 in a report on Thursday, November 7th. Finally, National Bank Financial lowered iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, iA Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$129.88.

iA Financial Stock Performance

TSE:IAG opened at C$130.62 on Monday. iA Financial has a twelve month low of C$80.95 and a twelve month high of C$138.01. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39. The company has a 50-day moving average of C$132.64 and a 200-day moving average of C$116.59. The firm has a market cap of C$12.43 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 earnings per share for the quarter, beating the consensus estimate of C$2.63 by C$0.30. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. Analysts forecast that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Senior Officer Alain Bergeron sold 510 shares of iA Financial stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of C$133.58, for a total transaction of C$68,125.80. Also, Director Denis Ricard sold 5,000 shares of iA Financial stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of C$137.00, for a total value of C$685,000.00. In the last ninety days, insiders sold 58,010 shares of company stock worth $7,675,070. 0.09% of the stock is currently owned by company 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.