iA Financial (TSE:IAG) Sets New 12-Month High on Analyst Upgrade

iA Financial Co. Inc. (TSE:IAG) shares hit a new 52-week high on Wednesday after TD Securities raised their price target on the stock from C$110.00 to C$114.00. TD Securities currently has a buy rating on the stock. iA Financial traded as high as C$94.32 and last traded at C$93.72, with a volume of 113358 shares trading hands. The stock had previously closed at C$88.80.

Other research analysts have also issued research reports about the company. BMO Capital Markets boosted their target price on iA Financial from C$101.00 to C$102.00 in a report on Friday, May 10th. CIBC upgraded iA Financial from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$97.00 to C$100.00 in a research report on Friday, May 10th. Royal Bank of Canada raised their price target on iA Financial from C$101.00 to C$102.00 in a research report on Friday, May 10th. Scotiabank lifted their price objective on iA Financial from C$98.00 to C$100.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 1st. Finally, Cormark boosted their price objective on shares of iA Financial from C$103.00 to C$105.00 in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, iA Financial has an average rating of “Moderate Buy” and an average target price of C$90.94.

Insider Buying and Selling at iA Financial

In related news, Director Denis Ricard sold 5,400 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$92.00, for a total transaction of C$496,800.00. In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 27th. The stock was sold at an average price of C$93.42, for a total value of C$467,091.50. Following the completion of the transaction, the insider now owns 500 shares of the company’s stock, valued at approximately C$46,709.15. Also, Director Denis Ricard sold 5,400 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of C$92.00, for a total transaction of C$496,800.00. Over the last ninety days, insiders sold 31,000 shares of company stock valued at $2,850,331. 0.09% of the stock is currently owned by corporate insiders.

iA Financial Price Performance

The company has a current ratio of 2.31, a quick ratio of 0.17 and a debt-to-equity ratio of 46.17. The stock has a market capitalization of C$9.13 billion, a P/E ratio of 12.80, a PEG ratio of 1.26 and a beta of 1.11. The company has a fifty day simple moving average of C$87.85 and a two-hundred day simple moving average of C$87.71.

iA Financial (TSE:IAG) last released its quarterly earnings data on Thursday, May 9th. The company reported C$2.44 earnings per share for the quarter, topping the consensus estimate of C$2.38 by C$0.06. iA Financial had a net margin of 9.25% and a return on equity of 10.54%. The business had revenue of C$1.60 billion for the quarter. Sell-side analysts expect that iA Financial Co. Inc. will post 10.3022222 EPS for the current fiscal year.

iA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 24th were given a dividend of $0.82 per share. The ex-dividend date was Thursday, May 23rd. This represents a $3.28 annualized dividend and a yield of 3.53%. iA Financial’s dividend payout ratio (DPR) is presently 45.30%.

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.