iA Financial FY2024 EPS Lifted by National Bank Financial

iA Financial Co. Inc. (TSE:IAG) – Investment analysts at National Bank Financial increased their FY2024 earnings per share (EPS) estimates for iA Financial in a note issued to investors on Tuesday, November 5th. National Bank Financial analyst G. Dechaine now expects that the company will post earnings per share of $10.90 for the year, up from their prior estimate of $10.49. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. National Bank Financial also issued estimates for iA Financial’s Q4 2024 earnings at $2.80 EPS and FY2025 earnings at $11.80 EPS.

iA Financial (TSE:IAG) last posted 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. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. The firm had revenue of C$1.64 billion for the quarter.

Several other brokerages have also issued reports on IAG. TD Securities raised their target price on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday. Scotiabank raised their price objective on iA Financial from C$126.00 to C$143.00 in a research report on Thursday. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Royal Bank of Canada lowered shares of iA Financial from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from C$105.00 to C$137.00 in a report on Thursday. Finally, National Bankshares boosted their price target on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$128.50.

iA Financial Price Performance

Shares of TSE:IAG opened at C$130.39 on Thursday. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. iA Financial has a 52 week low of C$80.95 and a 52 week high of C$134.29. The firm has a market cap of C$12.41 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The firm’s fifty day moving average is C$111.83 and its 200-day moving average is C$97.04.

iA Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.90 per share. This is an increase from iA Financial’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.60 annualized dividend and a dividend yield of 2.76%. iA Financial’s dividend payout ratio (DPR) is 43.91%.

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.