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

iA Financial Co. Inc. (TSE:IAG) has been given an average recommendation of “Moderate Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is C$129.75.

IAG has been the topic of several research analyst reports. National Bank Financial cut iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Royal Bank of Canada lowered shares of iA Financial from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$105.00 to C$137.00 in a research report on Thursday, November 7th. CIBC boosted their target price on iA Financial from C$133.00 to C$143.00 in a research report on Wednesday, November 13th. BMO Capital Markets boosted their price target on shares of iA Financial from C$126.00 to C$140.00 in a research note on Thursday, November 7th. Finally, National Bankshares boosted their price target on shares of iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th.

Insiders Place Their Bets

In related news, Senior Officer Pierre Miron sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$129.23, for a total value of C$1,938,415.50. Also, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total transaction of C$943,200.00. Insiders sold a total of 36,000 shares of company stock valued at $4,699,016 in the last ninety days. Corporate insiders own 0.09% of the company’s stock.

iA Financial Stock Performance

TSE IAG opened at C$133.09 on Wednesday. iA Financial has a fifty-two week low of C$80.95 and a fifty-two week high of C$134.29. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. The firm has a market capitalization of C$12.66 billion, a P/E ratio of 17.82, a PEG ratio of 1.26 and a beta of 1.13. The stock has a 50-day simple moving average of C$116.17 and a two-hundred day simple moving average of C$99.69.

iA Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.90 per share. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, November 22nd. iA Financial’s dividend payout ratio (DPR) is currently 43.91%.

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.