Cormark Comments on iA Financial Co. Inc.’s Q1 2024 Earnings (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Stock analysts at Cormark issued their Q1 2024 earnings per share estimates for iA Financial in a research report issued to clients and investors on Thursday, April 25th. Cormark analyst L. Persaud expects that the company will post earnings per share of $2.37 for the quarter. The consensus estimate for iA Financial’s current full-year earnings is $10.34 per share. Cormark also issued estimates for iA Financial’s FY2025 earnings at $11.41 EPS.

A number of other brokerages have also recently issued reports on IAG. CIBC raised their target price on iA Financial from C$95.00 to C$97.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Desjardins reduced their target price on iA Financial from C$94.00 to C$89.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. BMO Capital Markets raised their target price on iA Financial from C$99.00 to C$101.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. National Bankshares reduced their target price on iA Financial from C$104.00 to C$102.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Finally, Scotiabank reduced their target price on iA Financial from C$104.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$77.22.

iA Financial Price Performance

Shares of IAG stock opened at C$83.46 on Monday. The stock has a 50-day moving average price of C$85.11 and a 200 day moving average price of C$87.17. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 34.57. The firm has a market cap of C$8.32 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a 12 month low of C$77.61 and a 12 month high of C$93.90.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Tuesday, February 20th. The company reported C$2.34 EPS for the quarter, missing analysts’ consensus estimates of C$2.49 by C($0.15). The firm had revenue of C$1.55 billion during the quarter. iA Financial had a return on equity of 11.14% and a net margin of 9.95%.

iA Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.82 dividend. This is a boost from iA Financial’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, February 29th. This represents a $3.28 annualized dividend and a yield of 3.93%. iA Financial’s payout ratio is presently 43.85%.

Insider Buying and Selling at iA Financial

In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$84.59, for a total transaction of C$422,937.00. In related news, Senior Officer Michael Lee Stickney sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of C$85.07, for a total transaction of C$119,091.98. Also, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of C$84.59, for a total value of C$422,937.00. In the last quarter, insiders have sold 11,400 shares of company stock worth $975,169. Corporate insiders own 0.15% 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.