iA Financial Co. Inc. (TSE:IAG) Expected to Post Q1 2024 Earnings of $2.40 Per Share

iA Financial Co. Inc. (TSE:IAG) – Research analysts at Desjardins decreased their Q1 2024 earnings per share estimates for iA Financial in a note issued to investors on Tuesday, April 9th. Desjardins analyst D. Young now expects that the company will earn $2.40 per share for the quarter, down from their previous estimate of $2.45. Desjardins has a “Hold” rating and a $89.00 price objective on the stock. The consensus estimate for iA Financial’s current full-year earnings is $10.34 per share.

A number of other research firms have also recently commented on IAG. BMO Capital Markets lifted their price objective on iA Financial from C$99.00 to C$101.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. CIBC raised their price target on iA Financial from C$95.00 to C$97.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Scotiabank reduced their price objective on iA Financial from C$104.00 to C$95.00 and set an “outperform” rating on the stock in a research note on Thursday, February 22nd. Finally, National Bankshares reduced their price objective on iA Financial from C$104.00 to C$102.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$69.85.

iA Financial Trading Down 0.2 %

Shares of IAG stock opened at C$82.71 on Thursday. iA Financial has a fifty-two week low of C$77.61 and a fifty-two week high of C$93.90. The stock has a market cap of C$8.24 billion, a P/E ratio of 11.06, a P/E/G ratio of 1.26 and a beta of 1.13. The business has a fifty day simple moving average of C$87.31 and a 200-day simple moving average of C$87.31. The company has a quick ratio of 0.17, a current ratio of 0.82 and a debt-to-equity ratio of 34.57.

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

iA Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.82 per share. This is an increase from iA Financial’s previous quarterly dividend of $0.77. This represents a $3.28 annualized dividend and a dividend yield of 3.97%. The ex-dividend date was Thursday, February 29th. iA Financial’s dividend payout ratio (DPR) is presently 43.85%.

Insider Activity at iA Financial

In other iA Financial news, Senior Officer Denis Ricard acquired 4,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were bought at an average cost of C$86.00 per share, for a total transaction of C$344,000.00. In other 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 value of C$119,091.98. Also, Senior Officer Denis Ricard purchased 4,000 shares of the stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of C$86.00 per share, with a total value of C$344,000.00. In the last ninety days, insiders have sold 11,400 shares of company stock worth $975,169. 0.15% of the stock is currently owned by company insiders.

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.