iA Financial (TSE:IAG) Downgraded by Royal Bank of Canada to Sector Perform

iA Financial (TSE:IAG) was downgraded by equities research analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Thursday,BayStreet.CA reports. They presently have a C$137.00 price target on the stock, up from their previous price target of C$105.00. Royal Bank of Canada’s target price would suggest a potential upside of 7.04% from the stock’s current price.

IAG has been the subject of several other reports. National Bank Financial cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank upped their target price on shares of iA Financial from C$126.00 to C$143.00 in a report on Thursday. National Bankshares lifted their price target on iA Financial from C$118.00 to C$121.00 in a report on Wednesday. TD Securities boosted their price target on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. Finally, Cibc World Mkts raised shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, iA Financial presently has an average rating of “Moderate Buy” and an average target price of C$128.50.

iA Financial Trading Down 1.8 %

TSE:IAG opened at C$127.99 on Thursday. The company has a market cap of C$12.18 billion, a P/E ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. iA Financial has a twelve month low of C$80.95 and a twelve month high of C$134.29. The business has a 50 day moving average price of C$112.36 and a two-hundred day moving average price of C$97.25. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion for the quarter. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. As a group, analysts expect that iA Financial will post 11.6187564 EPS for the current fiscal year.

Insider Buying and Selling at iA Financial

In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total transaction of C$130,600.00. In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total value of C$130,600.00. Also, Director Denis Ricard sold 7,200 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total value of C$943,200.00. Company insiders own 0.09% of the company’s stock.

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.