Insider Selling: iA Financial Co. Inc. (TSE:IAG) Director Sells 10,000 Shares of Stock

iA Financial Co. Inc. (TSE:IAG) Director Denis Ricard sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of C$135.00, for a total transaction of C$1,350,000.00.

Denis Ricard also recently made the following trade(s):

• On Thursday, November 14th, Denis Ricard sold 10,000 shares of iA Financial stock. The shares were sold at an average price of C$132.00, for a total transaction of C$1,320,000.00.
• On Monday, November 11th, Denis Ricard sold 2,800 shares of iA Financial stock. The stock was sold at an average price of C$131.00, for a total transaction of C$366,800.00.
• On Thursday, November 7th, Denis Ricard sold 7,200 shares of iA Financial stock. The shares were sold at an average price of C$131.00, for a total transaction of C$943,200.00.

iA Financial Stock Performance

iA Financial stock opened at C$131.95 on Friday. iA Financial Co. Inc. has a fifty-two week low of C$80.95 and a fifty-two week high of C$137.34. The firm’s fifty day moving average price is C$117.91 and its 200-day moving average price is C$100.60. The stock has a market cap of C$12.55 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22.

iA Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, November 22nd. This represents a $3.60 annualized dividend and a yield of 2.73%. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s payout ratio is 43.91%.

Analyst Upgrades and Downgrades

IAG has been the subject of several recent research reports. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Cormark increased their price target on shares of iA Financial from C$127.00 to C$130.00 in a report on Wednesday, November 6th. National Bankshares boosted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th. BMO Capital Markets increased their target price on shares of iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Finally, Scotiabank boosted their price target on shares of iA Financial from C$126.00 to C$143.00 in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$129.75.

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.