Wise Investor | Buyer at iA Financial Group

Each Sunday, we focus on elements of financial and stock market news that may be useful to investors but may have slipped under the radar.

Two iA Financial Group board members bought nearly $1 million worth of shares in the Quebec company formerly known as Industrial Alliance earlier this week.

Martin Gagnon bought a block of 10,000 shares at a unit price of $86.44 on Tuesday. This former senior director of the National Bank joined the board in January.

For his part, iA Financial Group chairman for five years, Jacques Martin, bought a block of 1,000 shares during the first meeting of the week.

PUSH National Bank got a boost this week. Analyst Mike Rizvanovic of Keefe, Bruyette & Woods is now suggesting that his clients buy the bank’s stock. He explains his decision by the organization’s plan in terms of execution, as evidenced by the quarterly performance revealed at the end of February, higher relative exposure to capital markets with growth potential after two difficult years for the sector, constant outperformance compared to other banks in terms of provisions on credit losses, absence of exposure to US commercial real estate (offices) and reasonable valuation.

TD analyst Michael Van Aelst now recommends buying shares of the Montreal sugar company Rogers Sugar. The decline in the stock market since the announcement of the issue of shares to finance the expansion of production capacity makes the stock (and the 7% dividend yield) particularly attractive in the eyes of the analyst. He believes that the earnings outlook compensates for the dilution caused by the share issue.

Three executives of the company Stella-Jones bought shares this week in a Montreal manufacturer of railroad sleepers and telephone poles totaling about $300,000. CEO Éric Vachon bought 1,000 shares on Tuesday. CFO Sylvana Travaglini bought 1,000 shares on Monday, while Kevin Comerford, senior vice president of engineered columns and US residential lumber, bought 2,000 shares on Tuesday.

According to strategist Sébastien Mc Mahon of iA Global Asset Management, it is too early to announce the end of the stock market that started in the fall.

“Sentiment has evolved over the past few months, reflecting the reduced likelihood of a recession, and price/earnings multiples have increased accordingly,” he points out in his monthly commentary published midweek. “There is still a good chance that markets will continue their upward trajectory, as central banks could cut rates more than expected if inflation continues to slow. »

He adds that the gains could boost AI revenue, benefiting large-cap tech companies. He also believes it’s possible the stock market rally could extend beyond the big tech companies if the economy picks up speed again.

While Couche-Tard prepares to reveal its quarterly results on March 20, BMO analyst Tamy Chen is surprised by the stock’s recent rally. In a note to clients this week, it said it was concerned that market expectations were too optimistic. According to her, there could be volatility in the short term. “Sampling data from industry suggests that US fuel volumes may have worsened so far in 2024.”

In a note published on Monday, fellow TD Michael Van Aelst points out that there may be a better entry point into the stock after the earnings release.

Administrator in 5N Plus just bought $272,000 worth of shares in the Montreal-based semiconductor maker. Jean-Marie Bourassa bought 1ahem March 60 100 shares at a unit price of $4.52. He has been a member of the board for 17 years.

CFO of the company Saputa just bought nearly $225,000 worth of shares in a Montreal milk processor. Maxime Therrien of Saputo bought a total of 8,300 shares on February 29 and 1ahem March.

Quebec titles 5N Plus, AtkinsRealis (SNC-Lavalin), National Bank, ADF group, WSP, TFI AND CGI all hit 52-week highs on the Toronto Stock Exchange this week.

On the other hand, those of ECB, Waterfalls, Lion AND taiga it hit a 52-week low this week.

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