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

iA Financial Co. Inc. (TSE:IAG) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$137.53 and last traded at C$136.17, with a volume of 361917 shares. The stock had previously closed at C$133.29.

Wall Street Analysts Forecast Growth

IAG has been the subject of several research reports. Royal Bank of Canada downgraded iA Financial from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from C$105.00 to C$137.00 in a research report on Thursday, November 7th. TD Securities raised their price target on shares of iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. National Bankshares upped their price objective on iA Financial from C$118.00 to C$121.00 in a research report on Wednesday, November 6th. CIBC lifted their target price on iA Financial from C$133.00 to C$143.00 in a report on Wednesday, November 13th. Finally, Cormark upped their price target on iA Financial from C$127.00 to C$130.00 in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$129.75.

iA Financial Price Performance

The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. The stock has a fifty day moving average of C$122.09 and a 200-day moving average of C$103.33. The stock has a market capitalization of C$12.96 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.26 and a beta of 1.13.

iA Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a dividend of $0.90 per share. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, November 22nd. iA Financial’s dividend payout ratio (DPR) is currently 43.91%.

Insiders Place Their Bets

In other news, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total value of C$943,200.00. Also, Senior Officer Alain Bergeron sold 2,750 shares of the stock in a transaction on Thursday, November 28th. The stock was sold at an average price of C$134.00, for a total transaction of C$368,500.00. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately C$67,000. This represents a 84.62 % decrease in their position. Over the last 90 days, insiders have sold 49,750 shares of company stock valued at $6,554,429. 0.09% of the stock is currently owned by insiders.

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.