iA Financial (TSE:IAG) Price Target Raised to C$130.00 at Cormark

iA Financial (TSE:IAGFree Report) had its target price upped by Cormark from C$127.00 to C$130.00 in a research report sent to investors on Wednesday morning,BayStreet.CA reports. Cormark also issued estimates for iA Financial’s FY2024 earnings at $10.84 EPS and FY2025 earnings at $12.05 EPS.

Several other research analysts have also recently weighed in on IAG. Scotiabank boosted their price objective on iA Financial from C$110.00 to C$126.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. TD Securities increased their target price on shares of iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. National Bankshares cut shares of iA Financial from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from C$102.00 to C$118.00 in a report on Friday, October 25th. Finally, CIBC increased their price objective on iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, iA Financial presently has a consensus rating of “Moderate Buy” and an average target price of C$128.50.

View Our Latest Report on iA Financial

iA Financial Stock Down 1.8 %

iA Financial stock opened at C$127.99 on Wednesday. iA Financial has a fifty-two week low of C$80.95 and a fifty-two week high of C$134.29. 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 firm’s 50-day simple moving average is C$112.36 and its 200 day simple moving average is C$97.25. The stock has a market cap of C$12.18 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAGGet Free Report) last announced its earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion for the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. Research analysts predict that iA Financial will post 11.6187564 EPS for the current fiscal year.

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 issued a $0.90 dividend. The ex-dividend date is Friday, November 22nd. This represents a $3.60 annualized dividend and a yield of 2.81%. This is a boost from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s payout ratio is 43.91%.

Insider Activity

In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total value of C$130,600.00. In other news, Director Denis Ricard sold 7,200 shares of the company’s stock in a transaction dated 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 Michael Lee Stickney sold 1,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total transaction of C$130,600.00. Insiders own 0.09% of the company’s stock.

About iA Financial

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for iA Financial (TSE:IAG)

Receive News & Ratings for iA Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iA Financial and related companies with MarketBeat.com's FREE daily email newsletter.