iA Financial Co. Inc. (TSE:IAG – Free Report) – Equities research analysts at Cormark reduced their Q4 2023 earnings per share estimates for shares of iA Financial in a report issued on Thursday, November 9th. Cormark analyst L. Persaud now expects that the company will post earnings of $2.51 per share for the quarter, down from their prior estimate of $2.55. The consensus estimate for iA Financial’s current full-year earnings is $10.44 per share. Cormark also issued estimates for iA Financial’s Q1 2024 earnings at $2.44 EPS, Q2 2024 earnings at $2.58 EPS, Q3 2024 earnings at $2.70 EPS, Q4 2024 earnings at $2.84 EPS and FY2024 earnings at $10.55 EPS.
Other equities analysts have also recently issued research reports about the company. National Bank Financial dropped their target price on iA Financial from C$4.75 to C$4.50 in a report on Monday, August 14th. CIBC lowered their target price on iA Financial from C$96.00 to C$95.00 and set a “neutral” rating for the company in a report on Tuesday, August 8th. TD Securities lowered their target price on iA Financial from C$6.00 to C$5.50 in a report on Monday, August 14th. Desjardins lowered their target price on iA Financial from C$95.00 to C$94.00 and set a “hold” rating for the company in a report on Thursday, October 12th. Finally, Royal Bank of Canada upped their target price on iA Financial from C$100.00 to C$101.00 and gave the stock an “outperform” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$72.14.
iA Financial Price Performance
Shares of iA Financial stock opened at C$85.08 on Friday. The stock has a market cap of C$8.73 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.17. The company has a debt-to-equity ratio of 35.49, a quick ratio of 0.17 and a current ratio of 5.63. The stock has a 50 day moving average price of C$84.08 and a 200-day moving average price of C$86.94. iA Financial has a one year low of C$70.74 and a one year high of C$93.90.
In other news, insider iA Financial Corporation Inc. acquired 27,800 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were acquired at an average cost of C$84.78 per share, with a total value of C$2,356,959.06. In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of C$85.03, for a total transaction of C$85,025.00. Also, insider iA Financial Corporation Inc. bought 27,800 shares of iA Financial stock in a transaction on Monday, October 2nd. The shares were purchased at an average cost of C$84.78 per share, with a total value of C$2,356,959.06. Corporate insiders own 0.13% of the company’s stock.
iA Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a $0.765 dividend. This represents a $3.06 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, November 16th. iA Financial’s payout ratio is 27.92%.
About iA Financial
iA Financial Corporation Inc, through its subsidiary, Industrial Alliance Insurance and Financial Services Inc, provides various life and health insurance products in Canada and the United States. The company operates through Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations businesses.
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