iA Financial (TSE:IAG) Given New C$126.00 Price Target at Scotiabank

iA Financial (TSE:IAG) had its price target boosted by Scotiabank from C$110.00 to C$126.00 in a research report released on Wednesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also weighed in on IAG. National Bankshares lowered shares of iA Financial from an “outperform” rating to a “sector perform” rating and raised their price target for the company from C$102.00 to C$118.00 in a report on Friday, October 25th. TD Securities raised their price target on shares of iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on shares of iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research note on Thursday, August 8th. Finally, CIBC increased their price objective on shares of iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$111.00.

iA Financial Price Performance

IAG opened at C$115.34 on Wednesday. The company has a fifty day simple moving average of C$109.49 and a 200 day simple moving average of C$95.51. The firm has a market cap of C$10.97 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a twelve month low of C$79.39 and a twelve month high of C$119.25. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39.

iA Financial (TSE:IAG) last released its quarterly earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.17. The business 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%. Equities research analysts expect that iA Financial will post 11.6187564 EPS for the current fiscal year.

iA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 23rd were given a $0.82 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.84%. iA Financial’s payout ratio 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.