iA Financial (TSE:IAG) Hits New 52-Week High at $99.97

Shares of iA Financial Co. Inc. (TSE:IAG) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$99.97 and last traded at C$99.85, with a volume of 767375 shares traded. The stock had previously closed at C$99.01.

Wall Street Analysts Forecast Growth

IAG has been the topic of several research reports. Cormark upped their price objective on shares of iA Financial from C$103.00 to C$105.00 in a research note on Friday, May 10th. TD Securities lifted their price target on iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their price target on shares of iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a report on Thursday, August 8th. BMO Capital Markets upped their price objective on shares of iA Financial from C$102.00 to C$111.00 in a report on Thursday, August 8th. Finally, Scotiabank boosted their target price on iA Financial from C$100.00 to C$110.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$105.25.

iA Financial Stock Performance

The firm has a market cap of C$9.46 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.26 and a beta of 1.11. The firm’s 50 day moving average price is C$89.24 and its 200-day moving average price is C$88.12. The company has a debt-to-equity ratio of 20.29, a current ratio of 6.92 and a quick ratio of 0.17.

iA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $3.28 annualized dividend and a dividend yield of 3.30%. iA Financial’s payout ratio is 43.91%.

Insider Activity at iA Financial

In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 27th. The stock was sold at an average price of C$93.42, for a total value of C$467,091.50. Following the completion of the sale, the insider now owns 500 shares in the company, valued at approximately C$46,709.15. In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction on Monday, May 27th. The shares were sold at an average price of C$93.42, for a total value of C$467,091.50. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately C$46,709.15. Also, Director Denis Ricard sold 4,600 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of C$92.00, for a total transaction of C$423,200.00. Over the last 90 days, insiders sold 19,600 shares of company stock worth $1,810,041. 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.