iA Financial (TSE:IAG) Downgraded to Sector Perform Rating by Scotiabank

Scotiabank cut shares of iA Financial (TSE:IAG) from an outperform rating to a sector perform rating in a research report report published on Wednesday,BayStreet.CA reports. The firm currently has C$188.00 target price on the stock.

Several other analysts have also commented on the stock. National Bank Financial cut their target price on shares of iA Financial from C$190.00 to C$181.00 and set a “sector perform” rating for the company in a research note on Wednesday. BMO Capital Markets raised their price objective on iA Financial from C$170.00 to C$175.00 in a research note on Thursday, November 6th. Royal Bank Of Canada set a C$167.00 target price on iA Financial and gave the company a “sector perform” rating in a report on Monday, January 19th. TD Securities lifted their price target on iA Financial from C$178.00 to C$192.00 in a research note on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 8th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of C$178.14.

iA Financial Stock Down 11.0%

Shares of TSE:IAG opened at C$151.34 on Wednesday. The business has a fifty day simple moving average of C$173.68 and a 200-day simple moving average of C$162.95. iA Financial has a 52 week low of C$115.21 and a 52 week high of C$182.99. The company has a market cap of C$13.95 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.26 and a beta of 1.02.

iA Financial (TSE:IAG) last released its quarterly earnings data on Tuesday, February 17th. The company reported C$3.10 earnings per share (EPS) for the quarter. The company had revenue of C$3.23 billion during the quarter. iA Financial had a net margin of 6.85% and a return on equity of 13.73%. Sell-side analysts expect that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other iA Financial news, Director Denis Ricard sold 3,000 shares of iA Financial stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$175.25, for a total transaction of C$525,750.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at C$8,762,500. This trade represents a 5.66% decrease in their position. Corporate insiders own 0.09% of the company’s stock.

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.