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

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

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada cut shares of iA Financial from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$105.00 to C$137.00 in a report on Thursday, November 7th. BMO Capital Markets lifted their price target on shares of iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Cormark upped their price objective on shares of iA Financial from C$127.00 to C$130.00 in a research note on Wednesday, November 6th. TD Securities lifted their target price on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. Finally, National Bank Financial cut iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$129.88.

iA Financial Stock Performance

Shares of IAG stock opened at C$130.53 on Monday. iA Financial has a 12 month low of C$80.95 and a 12 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 market cap of C$12.42 billion, a P/E ratio of 17.47, a PEG ratio of 1.26 and a beta of 1.13. The firm has a fifty day moving average price of C$132.60 and a 200 day moving average price of C$116.90.

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

Insider Activity at iA Financial

In other iA Financial news, Director Denis Ricard sold 2,800 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$131.00, for a total value of C$366,800.00. Also, Senior Officer Pierre Miron sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$129.23, for a total value of C$1,938,415.50. Insiders have sold 49,810 shares of company stock worth $6,601,270 in the last quarter. Company insiders own 0.09% of the company’s stock.

iA Financial Company Profile

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.