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

iA Financial (TSE:IAG) had its target price increased by Cormark from C$127.00 to C$130.00 in a report published 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 issued reports on IAG. Scotiabank raised their target price 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. BMO Capital Markets raised their price objective on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. National Bankshares cut iA Financial from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$102.00 to C$118.00 in a report on Friday, October 25th. CIBC raised their price target on shares of iA Financial from C$106.00 to C$120.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, TD Securities upped their price objective on shares of iA Financial from C$132.00 to C$135.00 in a research note 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. According to data from MarketBeat.com, iA Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$128.50.

iA Financial Stock Down 1.8 %

Shares of TSE IAG opened at C$127.99 on Wednesday. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$134.29. 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 firm 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. The company has a 50 day simple moving average of C$112.36 and a 200 day simple moving average of C$97.25.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 EPS 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 company had revenue of C$1.64 billion for the quarter. On average, research analysts forecast that iA Financial will post 11.6187564 EPS for the current year.

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

Insider Activity at iA Financial

In other iA Financial news, Director Denis Ricard sold 7,200 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total value of C$943,200.00. In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. Also, Director Denis Ricard sold 7,200 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total transaction of C$943,200.00. 0.09% of the stock is owned by corporate insiders.

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.