Q2 2024 EPS Estimates for iA Financial Co. Inc. Lowered by Analyst (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Stock analysts at Desjardins cut their Q2 2024 earnings estimates for shares of iA Financial in a research note issued to investors on Wednesday, July 17th. Desjardins analyst D. Young now expects that the company will post earnings per share of $2.58 for the quarter, down from their prior estimate of $2.59. The consensus estimate for iA Financial’s current full-year earnings is $10.30 per share.

A number of other brokerages also recently weighed in on IAG. TD Securities raised their price objective on iA Financial from C$108.00 to C$110.00 in a research report on Friday, July 12th. Cormark raised their price target on shares of iA Financial from C$103.00 to C$105.00 in a report on Friday, May 10th. CIBC upgraded shares of iA Financial from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from C$97.00 to C$100.00 in a research note on Friday, May 10th. Royal Bank of Canada raised their target price on shares of iA Financial from C$101.00 to C$102.00 in a research note on Friday, May 10th. Finally, BMO Capital Markets lifted their price target on shares of iA Financial from C$101.00 to C$102.00 in a report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, iA Financial presently has an average rating of “Moderate Buy” and a consensus target price of C$89.94.

iA Financial Trading Up 0.4 %

Shares of TSE:IAG opened at C$89.87 on Monday. The company has a market capitalization of C$8.84 billion, a PE ratio of 12.41, a P/E/G ratio of 1.26 and a beta of 1.11. The company has a current ratio of 2.31, a quick ratio of 0.17 and a debt-to-equity ratio of 46.17. iA Financial has a 12-month low of C$77.61 and a 12-month high of C$94.25. The business’s fifty day simple moving average is C$88.10 and its 200-day simple moving average is C$87.50.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Thursday, May 9th. The company reported C$2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.38 by C$0.06. The company had revenue of C$1.60 billion for the quarter. iA Financial had a net margin of 9.25% and a return on equity of 10.54%.

Insider Activity at iA Financial

In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of C$91.42, for a total transaction of C$91,420.00. In other news, Senior Officer Alain Bergeron sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, May 27th. The shares were sold at an average price of C$93.42, for a total transaction of C$467,091.50. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately C$46,709.15. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the business’s stock in a transaction on 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 have sold a total of 31,000 shares of company stock worth $2,850,331 over the last quarter. Insiders own 0.09% of the company’s stock.

iA Financial Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend was Thursday, May 23rd. iA Financial’s dividend payout ratio (DPR) is 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.