iA Financial Co. Inc. (TSE:IAG) Expected to Post FY2024 Earnings of $10.31 Per Share

iA Financial Co. Inc. (TSE:IAG) – Research analysts at Cormark decreased their FY2024 earnings per share estimates for shares of iA Financial in a report issued on Thursday, April 25th. Cormark analyst L. Persaud now forecasts that the company will post earnings per share of $10.31 for the year, down from their previous forecast of $10.34. The consensus estimate for iA Financial’s current full-year earnings is $10.34 per share.

IAG has been the subject of several other research reports. National Bankshares decreased their price objective on iA Financial from C$104.00 to C$102.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Desjardins cut their target price on iA Financial from C$94.00 to C$89.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. BMO Capital Markets raised their target price on iA Financial from C$99.00 to C$101.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Scotiabank cut their target price on iA Financial from C$104.00 to C$95.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Finally, CIBC lifted their price target on iA Financial from C$95.00 to C$97.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$77.22.

iA Financial Trading Down 0.3 %

Shares of IAG opened at C$83.58 on Friday. The business has a 50-day moving average of C$85.61 and a 200 day moving average of C$87.17. iA Financial has a fifty-two week low of C$77.61 and a fifty-two week high of C$93.90. The firm has a market cap of C$8.33 billion, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 34.57, a quick ratio of 0.17 and a current ratio of 0.82.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Tuesday, February 20th. The company reported C$2.34 earnings per share for the quarter, missing the consensus estimate of C$2.49 by C($0.15). iA Financial had a return on equity of 11.14% and a net margin of 9.95%. The firm had revenue of C$1.55 billion during the quarter.

iA Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.82 dividend. This is a boost from iA Financial’s previous quarterly dividend of $0.77. This represents a $3.28 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Thursday, February 29th. iA Financial’s payout ratio is 43.85%.

Insiders Place Their Bets

In related news, Senior Officer Denis Ricard purchased 4,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were acquired at an average cost of C$86.00 per share, with a total value of C$344,000.00. In other news, Senior Officer Denis Ricard purchased 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were bought at an average cost of C$86.00 per share, for a total transaction of C$344,000.00. Also, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of C$86.63, for a total value of C$433,140.00. Insiders have sold 11,400 shares of company stock valued at $975,169 in the last ninety days. Company insiders own 0.15% of the company’s stock.

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.