iA Financial Co. Inc. (TSE:IAG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of iA Financial Co. Inc. (TSE:IAG) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is C$140.75.

Several research analysts have issued reports on the company. TD Securities raised their target price on iA Financial from C$146.00 to C$147.00 and gave the stock a “buy” rating in a research report on Tuesday. Cormark boosted their target price on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday, November 6th. Royal Bank of Canada upped their target price on shares of iA Financial from C$137.00 to C$141.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. CIBC lifted their price target on shares of iA Financial from C$144.00 to C$149.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, Desjardins upped their price objective on iA Financial from C$140.00 to C$145.00 and gave the stock a “hold” rating in a research note on Thursday, February 20th.

iA Financial Trading Up 3.4 %

Shares of IAG opened at C$136.50 on Friday. The firm has a market cap of C$12.81 billion, a PE ratio of 13.00, a P/E/G ratio of 1.26 and a beta of 1.13. iA Financial has a 1-year low of C$80.95 and a 1-year high of C$141.88. The firm has a fifty day simple moving average of C$131.69 and a two-hundred day simple moving average of C$121.44.

iA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.64%. iA Financial’s payout ratio is presently 31.25%.

Insider Activity

In related news, Director Denis Ricard sold 5,000 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$137.00, for a total transaction of C$685,000.00. Also, Senior Officer Alain Bergeron sold 510 shares of iA Financial stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$133.58, for a total transaction of C$68,125.80. Insiders have sold 11,010 shares of company stock worth $1,489,167 over the last ninety days. Corporate insiders own 0.09% of the company’s stock.

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.