Analysts Set iA Financial Co. Inc. (TSE:IAG) Price Target at C$89.72

iA Financial Co. Inc. (TSE:IAG) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is C$89.72.

A number of equities analysts have recently commented on the stock. CIBC raised shares of iA Financial from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from C$97.00 to C$100.00 in a report on Friday, May 10th. TD Securities raised their price objective on shares of iA Financial from C$103.00 to C$108.00 in a report on Friday, May 10th. Cormark raised their price objective on shares of iA Financial from C$103.00 to C$105.00 in a report on Friday, May 10th. BMO Capital Markets raised their price objective on shares of iA Financial from C$101.00 to C$102.00 in a report on Friday, May 10th. Finally, Royal Bank of Canada raised their price objective on shares of iA Financial from C$101.00 to C$102.00 in a report on Friday, May 10th.

Insider Activity at iA Financial

In other iA Financial news, Director Denis Ricard sold 5,400 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$92.00, for a total value of C$496,800.00. In other iA Financial news, Director Denis Ricard sold 5,400 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$92.00, for a total value of C$496,800.00. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$91.42, for a total transaction of C$91,420.00. Insiders sold 31,000 shares of company stock valued at $2,850,331 in the last ninety days. Insiders own 0.09% of the company’s stock.

iA Financial Price Performance

Shares of iA Financial stock opened at C$85.85 on Friday. The company has a debt-to-equity ratio of 46.17, a current ratio of 2.31 and a quick ratio of 0.17. iA Financial has a fifty-two week low of C$77.61 and a fifty-two week high of C$94.25. The firm has a fifty day moving average price of C$87.62 and a two-hundred day moving average price of C$87.96. The company has a market cap of C$8.44 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11.

iA Financial (TSE:IAG) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$2.44 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.38 by C$0.06. The firm had revenue of C$1.60 billion during the quarter. iA Financial had a net margin of 9.25% and a return on equity of 10.54%. Analysts expect that iA Financial will post 10.3022222 EPS for the current year.

iA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 24th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, May 23rd. iA Financial’s dividend payout ratio is currently 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.