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

iA Financial (TSE:IAG) was downgraded by equities researchers at Scotiabank from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets boosted their price objective on iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. CIBC boosted their target price on iA Financial from C$143.00 to C$144.00 in a research report on Thursday, January 30th. TD Securities boosted their target price on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada lowered iA Financial from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from C$105.00 to C$137.00 in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, iA Financial has an average rating of “Moderate Buy” and an average price target of C$129.88.

iA Financial Trading Up 0.2 %

Shares of TSE IAG opened at C$130.62 on Monday. The business’s 50 day moving average is C$132.64 and its two-hundred day moving average is C$116.59. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. iA Financial has a 1-year low of C$80.95 and a 1-year high of C$138.01. The stock has a market capitalization of C$12.43 billion, a P/E ratio of 17.49, a PEG ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 earnings per share for the quarter, topping the consensus estimate 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%. As a group, research analysts expect that iA Financial will post 11.6187564 EPS for the current year.

Insider Activity at iA Financial

In other iA Financial news, Senior Officer Pierre Miron sold 15,000 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Also, Senior Officer Alain Bergeron sold 2,750 shares of the company’s stock in a transaction on Thursday, November 28th. The stock was sold at an average price of C$134.00, for a total value of C$368,500.00. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately C$67,000. This represents a 84.62 % decrease in their position. Over the last quarter, insiders sold 58,010 shares of company stock worth $7,675,070. 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.