FY2024 EPS Estimates for iA Financial Boosted by Analyst

iA Financial Co. Inc. (TSE:IAG) – Investment analysts at National Bank Financial lifted their FY2024 earnings per share (EPS) estimates for shares of iA Financial in a research report issued to clients and investors on Tuesday, January 14th. National Bank Financial analyst G. Dechaine now expects that the company will post earnings per share of $10.95 for the year, up from their previous estimate of $10.90. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. National Bank Financial also issued estimates for iA Financial’s Q4 2024 earnings at $2.84 EPS and FY2026 earnings at $12.84 EPS.

A number of other equities analysts have also recently issued reports on the stock. Cibc World Mkts upgraded shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Cormark upped their price target on shares of iA Financial from C$127.00 to C$130.00 in a report on Wednesday, November 6th. Royal Bank of Canada downgraded iA Financial from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from C$105.00 to C$137.00 in a report on Thursday, November 7th. CIBC upped their target price on iA Financial from C$133.00 to C$143.00 in a report on Wednesday, November 13th. Finally, TD Securities increased their target price on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$129.75.

iA Financial Stock Performance

iA Financial stock opened at C$131.25 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. The stock has a market cap of C$12.49 billion, a PE ratio of 17.57, a P/E/G ratio of 1.26 and a beta of 1.13. iA Financial has a 12-month low of C$80.95 and a 12-month high of C$138.01. The business’s 50-day moving average price is C$132.31 and its two-hundred day moving average price is C$112.03.

Insiders Place Their Bets

In other news, Senior Officer Pierre Miron sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Also, Director Denis Ricard sold 5,000 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of C$137.00, for a total value of C$685,000.00. Over the last ninety days, insiders sold 58,010 shares of company stock worth $7,675,070. 0.09% of the stock is currently owned by company insiders.

iA Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 22nd were paid a dividend of $0.90 per share. The ex-dividend date was Friday, November 22nd. 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 2.74%. iA Financial’s dividend 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.