iA Financial Co. Inc. to Post FY2024 Earnings of $10.31 Per Share, Cormark Forecasts (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Equities researchers at Cormark lowered their FY2024 earnings estimates for iA Financial in a report issued on Thursday, April 25th. Cormark analyst L. Persaud now forecasts that the company will post earnings per share of $10.31 for the year, down from their prior forecast of $10.34. The consensus estimate for iA Financial’s current full-year earnings is $10.34 per share.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, February 20th. The company reported C$2.34 EPS for the quarter, missing analysts’ consensus estimates of C$2.49 by C($0.15). iA Financial had a net margin of 9.95% and a return on equity of 11.14%. The company had revenue of C$1.55 billion for the quarter.

IAG has been the topic of several other research reports. Desjardins decreased their price target on shares of iA Financial from C$94.00 to C$89.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Scotiabank decreased their price target on shares of iA Financial from C$104.00 to C$95.00 and set an “outperform” rating on the stock in a research report on Thursday, February 22nd. CIBC lifted their price target on shares of iA Financial from C$95.00 to C$97.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. BMO Capital Markets lifted their price target on shares of iA Financial from C$99.00 to C$101.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, National Bankshares decreased their price target on shares of iA Financial from C$104.00 to C$102.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, iA Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$77.22.

iA Financial Price Performance

TSE IAG opened at C$84.76 on Friday. iA Financial has a 12 month low of C$77.61 and a 12 month high of C$93.90. The company has a debt-to-equity ratio of 34.57, a current ratio of 0.82 and a quick ratio of 0.17. The firm has a market capitalization of C$8.45 billion, a PE ratio of 11.33, a P/E/G ratio of 1.26 and a beta of 1.13. The company’s 50 day simple moving average is C$85.41 and its 200 day simple moving average is C$87.15.

Insider Buying and Selling

In related news, Senior Officer Michael Lee Stickney sold 1,400 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of C$85.07, for a total value of C$119,091.98. In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of iA Financial stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of C$86.63, for a total transaction of C$433,140.00. Also, Senior Officer Michael Lee Stickney sold 1,400 shares of iA Financial stock in a transaction on Monday, March 4th. The shares were sold at an average price of C$85.07, for a total transaction of C$119,091.98. In the last 90 days, insiders sold 11,400 shares of company stock valued at $975,169. Company insiders own 0.15% of the company’s stock.

iA Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.82 dividend. This is a positive change from iA Financial’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $3.28 dividend on an annualized basis and a yield of 3.87%. iA Financial’s dividend payout ratio (DPR) is currently 43.85%.

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.