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

iA Financial (TSE:IAG) 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.

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:IAG) 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

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.