iA Financial (TSE:IAG) Lowered to “Hold” at National Bank Financial

National Bank Financial lowered shares of iA Financial (TSE:IAG) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

Several other equities research analysts have also issued reports on IAG. CIBC raised their target price on shares of iA Financial from C$100.00 to C$106.00 in a report on Thursday, August 8th. Scotiabank raised their price objective on shares of iA Financial from C$100.00 to C$110.00 in a research note on Thursday, August 8th. TD Securities increased their price target on iA Financial from C$110.00 to C$114.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their price target on iA Financial from C$102.00 to C$105.00 and gave the stock a “moderate buy” rating in a research note on Thursday, August 8th. Finally, BMO Capital Markets upped their price objective on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of C$107.25.

iA Financial Stock Down 2.5 %

Shares of IAG opened at C$112.94 on Thursday. The business’s 50 day simple moving average is C$108.61 and its 200-day simple moving average is C$94.90. iA Financial has a 1 year low of C$77.61 and a 1 year high of C$119.25. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The stock has a market capitalization of C$10.75 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion during the quarter. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. As a group, equities analysts expect that iA Financial will post 11.6187564 earnings per share for the current fiscal year.

iA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $3.28 annualized dividend and a yield of 2.90%. iA Financial’s payout ratio is currently 43.91%.

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.