iA Financial (TSE:IAG) Reaches New 52-Week High at $103.53

iA Financial Co. Inc. (TSE:IAG)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$103.53 and last traded at C$103.37, with a volume of 27680 shares changing hands. The stock had previously closed at C$102.00.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IAG. TD Securities increased their price objective on shares of iA Financial from C$110.00 to C$114.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Cormark lifted their price target on iA Financial from C$103.00 to C$105.00 in a research note on Friday, May 10th. BMO Capital Markets upped their price objective on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. Scotiabank lifted their price objective on shares of iA Financial from C$100.00 to C$110.00 in a report on Thursday, August 8th. Finally, CIBC raised their target price on shares of iA Financial from C$100.00 to C$106.00 in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$105.25.

iA Financial Stock Performance

The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The stock has a 50-day moving average price of C$91.95 and a 200-day moving average price of C$88.75. The company has a market capitalization of C$9.80 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.26 and a beta of 1.12.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.58 by C$0.17. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. The business had revenue of C$1.64 billion during the quarter. As a group, analysts forecast that iA Financial Co. Inc. will post 10.5108359 earnings per share for the current year.

iA Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 23rd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Friday, August 23rd. iA Financial’s payout ratio is 43.91%.

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.