Brokerages Set iA Financial Co. Inc. (TSE:IAG) Target Price at C$89.94

Shares of iA Financial Co. Inc. (TSE:IAG) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$89.94.

IAG has been the topic of several recent analyst reports. TD Securities lifted their target price on iA Financial from C$108.00 to C$110.00 in a research note on Friday, July 12th. BMO Capital Markets lifted their target price on iA Financial from C$101.00 to C$102.00 in a research note on Friday, May 10th. Royal Bank of Canada lifted their target price on iA Financial from C$101.00 to C$102.00 in a research note on Friday, May 10th. CIBC raised iA Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the company from C$97.00 to C$100.00 in a research note on Friday, May 10th. Finally, Cormark lifted their target price on iA Financial from C$103.00 to C$105.00 in a research note on Friday, May 10th.

iA Financial Trading Up 0.1 %

TSE:IAG opened at C$89.94 on Thursday. iA Financial has a 12-month low of C$77.61 and a 12-month high of C$94.25. The firm has a market capitalization of C$8.85 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.26 and a beta of 1.11. The company has a debt-to-equity ratio of 46.17, a current ratio of 2.31 and a quick ratio of 0.17. The business has a 50 day simple moving average of C$88.10 and a 200 day simple moving average of C$87.51.

iA Financial (TSE:IAG) last announced its earnings results on Thursday, May 9th. The company reported C$2.44 earnings per share for the quarter, beating the consensus estimate of C$2.38 by C$0.06. The firm had revenue of C$1.60 billion for the quarter. iA Financial had a return on equity of 10.54% and a net margin of 9.25%. Equities research analysts predict that iA Financial will post 10.3022222 EPS for the current year.

iA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 24th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, May 23rd. iA Financial’s dividend payout ratio is presently 45.30%.

Insider Transactions at iA Financial

In other news, Director Denis Ricard sold 5,400 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$92.00, for a total value of C$496,800.00. In related news, Senior Officer Alain Bergeron sold 5,000 shares of iA Financial stock in a transaction on Monday, May 27th. The stock was sold at an average price of C$93.42, for a total value of C$467,091.50. Following the transaction, the insider now directly owns 500 shares in the company, valued at approximately C$46,709.15. Also, Director Denis Ricard sold 5,400 shares of iA Financial stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$92.00, for a total value of C$496,800.00. In the last 90 days, insiders have sold 31,000 shares of company stock valued at $2,850,331. 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.