iA Financial (TSE:IAG) Given New C$130.00 Price Target at Cormark

iA Financial (TSE:IAG) had its price objective raised by Cormark from C$127.00 to C$130.00 in a research report released on Wednesday morning,BayStreet.CA reports. Cormark also issued estimates for iA Financial’s FY2024 earnings at $10.84 EPS and FY2025 earnings at $12.05 EPS.

Other equities research analysts also recently issued reports about the company. TD Securities upped their target price on iA Financial from C$132.00 to C$135.00 in a report on Wednesday. National Bank Financial downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank upped their target price on iA Financial from C$110.00 to C$126.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. National Bankshares downgraded iA Financial from an “outperform” rating to a “sector perform” rating and upped their target price for the company from C$102.00 to C$118.00 in a report on Friday, October 25th. Finally, BMO Capital Markets upped their target price on iA Financial from C$102.00 to C$111.00 in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, iA Financial has an average rating of “Moderate Buy” and a consensus target price of C$128.50.

iA Financial Trading Down 1.8 %

Shares of iA Financial stock opened at C$127.99 on Wednesday. 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 firm has a market cap of C$12.18 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The business has a fifty day simple moving average of C$112.36 and a 200-day simple moving average of C$97.25. iA Financial has a fifty-two week low of C$80.95 and a fifty-two week high of C$134.29.

iA Financial Increases Dividend

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

Insider Buying and Selling

In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total value of C$130,600.00. In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was 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 dated Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total value of C$943,200.00. Company insiders own 0.09% of the company’s stock.

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.