Scotiabank Has Lowered Expectations for iA Financial (TSE:IAG) Stock Price

iA Financial (TSE:IAG) had its target price lowered by analysts at Scotiabank from C$188.00 to C$174.00 in a research report issued on Thursday,BayStreet.CA reports. Scotiabank’s price target suggests a potential upside of 11.93% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Canadian Imperial Bank of Commerce downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 8th. Royal Bank Of Canada set a C$167.00 price objective on iA Financial and gave the company a “sector perform” rating in a report on Monday, January 19th. National Bank Financial lowered their target price on iA Financial from C$190.00 to C$181.00 and set a “sector perform” rating on the stock in a research report on Wednesday. BMO Capital Markets increased their price target on iA Financial from C$170.00 to C$175.00 in a research report on Thursday, November 6th. Finally, TD Securities decreased their price target on iA Financial from C$192.00 to C$189.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of C$176.14.

iA Financial Stock Performance

Shares of iA Financial stock opened at C$155.45 on Thursday. The firm has a market cap of C$14.32 billion, a PE ratio of 13.35, a P/E/G ratio of 1.26 and a beta of 1.02. The business’s 50 day simple moving average is C$172.82 and its 200 day simple moving average is C$163.00. iA Financial has a 52-week low of C$115.21 and a 52-week high of C$182.99.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, February 17th. The company reported C$3.10 earnings per share for the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. The company had revenue of C$3.23 billion during the quarter. As a group, equities research analysts predict that iA Financial will post 11.6187564 EPS for the current year.

Insider Transactions at iA Financial

In other news, Director Denis Ricard sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of C$175.25, for a total value of C$525,750.00. Following the completion of the sale, the director directly owned 50,000 shares of the company’s stock, valued at C$8,762,500. This trade represents a 5.66% decrease in their ownership of the stock. 0.09% of the stock is owned by corporate insiders.

About iA Financial

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.