iA Financial (TSE:IAG) Sets New 52-Week High – Still a Buy?

iA Financial Co. Inc. (TSE:IAG)’s stock price hit a new 52-week high 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on IAG. Cormark raised their price target on iA Financial from C$127.00 to C$130.00 in a research note on Wednesday, November 6th. National Bank Financial lowered iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. National Bankshares boosted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a report on Wednesday, November 6th. Scotiabank boosted their price objective on shares of iA Financial from C$126.00 to C$143.00 in a research report on Thursday, November 7th. Finally, BMO Capital Markets raised their target price on shares of iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, iA Financial has an average rating of “Moderate Buy” and a consensus target price of C$129.75.

iA Financial Price Performance

The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. The stock has a market capitalization of C$12.95 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The business’s 50-day moving average price is C$123.13 and its 200 day moving average price is C$103.87.

iA Financial Increases Dividend

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

Insider Transactions at iA Financial

In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total value of C$130,600.00. Also, Director Denis Ricard sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of C$137.00, for a total transaction of C$685,000.00. In the last ninety days, insiders sold 54,750 shares of company stock valued at $7,239,429. Company insiders own 0.09% of the company’s stock.

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.