Shares of iA Financial Co. Inc. (TSE:IAG – Get Free Report) hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as C$141.88 and last traded at C$139.94, with a volume of 75594 shares. The stock had previously closed at C$132.87.
The newly announced dividend which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.69%. iA Financial’s dividend payout ratio (DPR) is 31.25%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on IAG. Cibc World Mkts upgraded shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. National Bank Financial lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. National Bankshares upped their target price on iA Financial from C$118.00 to C$121.00 in a research report on Wednesday, November 6th. Scotiabank cut iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Finally, TD Securities upped their price objective on iA Financial from C$143.00 to C$146.00 and gave the company a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$131.25.
iA Financial Trading Up 0.6 %
The stock has a 50-day moving average of C$131.86 and a two-hundred day moving average of C$119.78. The firm has a market cap of C$12.54 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.
Insiders Place Their Bets
In other iA Financial news, Director Denis Ricard sold 5,000 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was 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 the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$133.58, for a total value of C$68,125.80. Insiders sold a total of 11,010 shares of company stock worth $1,489,142 over the last ninety days. 0.09% of the stock is currently owned by company 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.
Recommended Stories
- Five stocks we like better than iA Financial
- What Do S&P 500 Stocks Tell Investors About the Market?
- Nebius Group: NVIDIA’s Investment Sparks All-Time Highs
- What is the S&P/TSX Index?
- SoFi Stock Rallying Strong in the Last 5 Days—What’s Driving It?
- The Most Important Warren Buffett Stock for Investors: His Own
- Intel Surges on M&A Talks: Rally Beginning or Just a Headfake?
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.
