Scotiabank Increases iA Financial (TSE:IAG) Price Target to C$110.00

iA Financial (TSE:IAG) had its price target raised by Scotiabank from C$100.00 to C$110.00 in a research note published on Thursday, BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the stock. CIBC upgraded shares of iA Financial from a neutral rating to an outperform rating and raised their target price for the company from C$97.00 to C$100.00 in a research note on Friday, May 10th. TD Securities raised their target price on shares of iA Financial from C$110.00 to C$114.00 and gave the company a buy rating in a research note on Wednesday, August 7th. 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. Cormark raised their target price on shares of iA Financial from C$103.00 to C$105.00 in a research note on Friday, May 10th. Finally, BMO Capital Markets 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, iA Financial currently has a consensus rating of Moderate Buy and an average price target of C$94.06.

iA Financial Price Performance

Shares of TSE IAG opened at C$99.23 on Thursday. The stock has a market capitalization of C$9.44 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.26 and a beta of 1.11. The business has a 50-day moving average of C$88.30 and a 200-day moving average of C$87.83. The company has a debt-to-equity ratio of 20.29, a current ratio of 6.92 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$99.31.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Thursday, May 9th. The company reported C$2.44 earnings per share for the quarter, beating the consensus estimate of C$2.38 by C$0.06. iA Financial had a return on equity of 10.51% and a net margin of 10.50%. The company had revenue of C$1.60 billion during the quarter. As a group, sell-side analysts predict that iA Financial will post 10.6511628 earnings per share for the current fiscal year.

iA Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, August 23rd. This represents a $3.28 annualized dividend and a dividend yield of 3.31%. iA Financial’s dividend payout ratio is presently 43.91%.

Insider Transactions at iA Financial

In related news, Senior Officer Alain Bergeron sold 5,000 shares of iA Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of C$90.41, for a total value of C$452,070.00. Following the transaction, the insider now directly owns 500 shares of the company’s stock, valued at C$45,207. In related news, Senior Officer Alain Bergeron sold 5,000 shares of iA Financial stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of C$90.41, for a total value of C$452,070.00. Following the transaction, the insider now directly owns 500 shares of the company’s stock, valued at C$45,207. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of iA Financial 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. Over the last ninety days, insiders have sold 31,000 shares of company stock valued at $2,850,331. 0.09% of the stock is currently owned by company insiders.

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.