iA Financial (TSE:IAG) Price Target Raised to C$121.00

iA Financial (TSE:IAG) had its price objective hoisted by National Bankshares from C$118.00 to C$121.00 in a report issued on Wednesday morning,BayStreet.CA reports.

Several other brokerages have also recently commented on IAG. CIBC boosted their price target on shares of 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. Royal Bank of Canada boosted their target price on iA Financial from C$102.00 to C$105.00 and gave the stock a “moderate buy” rating in a research report on Thursday, August 8th. Cormark increased their price target on iA Financial from C$127.00 to C$130.00 in a research note on Wednesday. Cibc World Mkts raised iA Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, National Bank Financial downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$128.50.

iA Financial Stock Performance

TSE:IAG opened at C$127.99 on Wednesday. The stock has a 50-day moving average price of C$112.36 and a 200 day moving average price of C$97.25. The stock has a market capitalization of C$12.18 billion, a P/E ratio of 17.13, 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$134.29. 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 data on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion for the quarter. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. Equities research analysts forecast that iA Financial will post 11.6187564 EPS for the current fiscal year.

iA Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.81%. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. The ex-dividend date is Friday, November 22nd. iA Financial’s payout ratio is presently 43.91%.

Insider Activity

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