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

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

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, February 20th. The company reported C$2.34 EPS for the quarter, missing analysts’ consensus estimates of C$2.49 by C($0.15). The company had revenue of C$1.55 billion during the quarter. iA Financial had a net margin of 9.95% and a return on equity of 11.14%.

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

iA Financial Trading Down 0.3 %

TSE IAG opened at C$83.58 on Friday. iA Financial has a 12 month low of C$77.61 and a 12 month high of C$93.90. The firm has a market capitalization of C$8.33 billion, a P/E ratio of 11.17, a PEG ratio of 1.26 and a beta of 1.13. The business has a fifty day simple moving average of C$85.61 and a 200 day simple moving average of C$87.17. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 34.57.

iA Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $0.82 per share. The ex-dividend date was Thursday, February 29th. This is a positive change from iA Financial’s previous quarterly dividend of $0.77. This represents a $3.28 annualized dividend and a dividend yield of 3.92%. iA Financial’s payout ratio is currently 43.85%.

Insiders Place Their Bets

In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$84.59, for a total value of C$422,937.00. In other news, Senior Officer Michael Lee Stickney sold 1,400 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of C$85.07, for a total transaction of C$119,091.98. Also, Senior Officer Alain Bergeron sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of C$84.59, for a total value of C$422,937.00. Over the last three months, insiders have sold 11,400 shares of company stock valued at $975,169. 0.15% of the stock is currently owned by corporate insiders.

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.