iA Financial (TSE:IAG) Reaches New 1-Year High – Here’s Why

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

Wall Street Analyst Weigh In

IAG has been the topic of a number of analyst reports. TD Securities raised their target price on iA Financial from C$146.00 to C$147.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Desjardins boosted their price objective on iA Financial from C$140.00 to C$145.00 and gave the company a “hold” 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. BMO Capital Markets boosted their price target on shares of iA Financial from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, CIBC increased their price objective on shares of iA Financial from C$144.00 to C$149.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, iA Financial currently has an average rating of “Moderate Buy” and an average target price of C$140.75.

iA Financial Trading Up 2.1 %

The company has a market capitalization of C$13.19 billion, a PE ratio of 13.39, a PEG ratio of 1.26 and a beta of 1.13. The company has a fifty day simple moving average of C$131.61 and a 200-day simple moving average of C$126.86.

iA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given 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 presently 31.25%.

Insider Buying and Selling

In other iA Financial news, Senior Officer Alain Bergeron sold 2,750 shares of iA Financial stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of C$135.37, for a total transaction of C$372,267.50. Over the last three months, insiders sold 12,750 shares of company stock worth $1,731,044. 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.