iA Financial (TSE:IAG) Stock Price Expected to Rise, Scotiabank Analyst Says

iA Financial (TSE:IAG) had its price target lifted by Scotiabank from C$126.00 to C$143.00 in a research note released on Thursday,BayStreet.CA reports.

Other equities research analysts have also issued reports about the company. CIBC boosted their price objective on iA Financial from C$106.00 to C$120.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. National Bankshares increased their target price on iA Financial from C$118.00 to C$121.00 in a report on Wednesday, November 6th. Cormark lifted their target price on iA Financial from C$127.00 to C$130.00 in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price target on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. Finally, National Bank Financial lowered iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, iA Financial has an average rating of “Moderate Buy” and a consensus target price of C$128.50.

iA Financial Stock Performance

Shares of IAG stock opened at C$127.99 on Thursday. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. iA Financial has a 52-week low of C$80.95 and a 52-week high of C$134.29. The business has a 50-day simple moving average of C$112.36 and a 200-day simple moving average of C$97.36. The stock has a market cap of C$12.18 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

iA Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This is a boost from iA Financial’s previous quarterly dividend of $0.82. This represents a $3.60 annualized dividend and a dividend yield of 2.81%. iA Financial’s dividend payout ratio (DPR) is 43.91%.

Insider Activity

In related news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total value of C$130,600.00. In other news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. Also, Director Denis Ricard sold 7,200 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total transaction of C$943,200.00. Insiders own 0.09% 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.