iA Financial (TSE:IAG) Reaches New 12-Month High – Still a Buy?

iA Financial Co. Inc. (TSE:IAG)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as C$140.17 and last traded at C$140.54, with a volume of 209019 shares changing hands. The stock had previously closed at C$137.59.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on IAG shares. TD Securities boosted their price target on shares of iA Financial from C$146.00 to C$147.00 and gave the stock a “buy” rating in a research note on Tuesday, February 25th. BMO Capital Markets raised their price target on shares of iA Financial from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Scotiabank lowered iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Desjardins lifted their target price on iA Financial from C$140.00 to C$145.00 and gave the company a “hold” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada upped their price target on iA Financial from C$137.00 to C$141.00 and gave the stock a “sector perform” rating in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, iA Financial has a consensus rating of “Moderate Buy” and an average price target of C$140.75.

iA Financial Stock Up 2.1 %

The business’s fifty day simple moving average is C$131.61 and its two-hundred day simple moving average is C$126.86. The company has a market cap of C$13.19 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 1.26 and a beta of 1.13.

iA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 2.56%. iA Financial’s payout ratio is 31.25%.

Insider Buying and Selling

In other iA Financial news, Senior Officer Alain Bergeron sold 2,750 shares of the stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of C$136.40, for a total transaction of C$375,100.00. Insiders have sold 12,750 shares of company stock worth $1,731,044 in the last quarter. 0.09% of the stock is owned by insiders.

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.