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Multiple insiders secured a larger position in iA Financial Corporation Inc. (TSE:IAG) shares over the last 12 months. This is reassuring as this suggests that insiders have increased optimism about the company's prospects.
Although we don't think shareholders should simply follow insider transactions, logic dictates you should pay some attention to whether insiders are buying or selling shares.
Check out our latest analysis for iA Financial
iA Financial Insider Transactions Over The Last Year
The insider Martin Gagnon made the biggest insider purchase in the last 12 months. That single transaction was for CA$864k worth of shares at a price of CA$86.44 each. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$117. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
iA Financial insiders may have bought shares in the last year, but they didn't sell any. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership Of iA Financial
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. iA Financial insiders own about CA$18m worth of shares. That equates to 0.2% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About iA Financial Insiders?
It doesn't really mean much that no insider has traded iA Financial shares in the last quarter. However, our analysis of transactions over the last year is heartening. Insiders own shares in iA Financial and we see no evidence to suggest they are worried about the future. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.