FY2024 EPS Estimates for iA Financial Boosted by Desjardins

iA Financial Co. Inc. (TSE:IAG - Free Report) - Equities researchers at Desjardins boosted their FY2024 earnings per share estimates for iA Financial in a research report issued to clients and investors on Wednesday, November 6th. Desjardins analyst D. Young now forecasts that the company will earn $10.95 per share for the year, up from their prior estimate of $10.48. The consensus estimate for iA Financial's current full-year earnings is $11.62 per share.

A number of other brokerages have also weighed in on IAG. CIBC lifted their target price on iA Financial from C$120.00 to C$133.00 in a research report on Thursday. Royal Bank of Canada downgraded iA Financial from an "outperform" rating to a "sector perform" rating and boosted their target price for the stock from C$105.00 to C$137.00 in a research note on Thursday. National Bank Financial downgraded iA Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th. Cormark boosted their price target on iA Financial from C$127.00 to C$130.00 in a research note on Wednesday, November 6th. Finally, Scotiabank boosted their price objective on iA Financial from C$126.00 to C$143.00 in a report on Thursday. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$128.50.

iA Financial Trading Up 1.2 %

Shares of TSE:IAG traded up C$1.52 during trading on Monday, hitting C$129.51. The company had a trading volume of 122,368 shares, compared to its average volume of 283,542. iA Financial has a one year low of C$80.95 and a one year high of C$134.29. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The stock has a market cap of C$12.32 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a fifty day simple moving average of C$112.36 and a two-hundred day simple moving average of C$97.36.

Insider Buying and Selling

In other iA Financial news, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of C$131.00, for a total value of C$943,200.00. In other iA Financial news, Director Denis Ricard sold 7,200 shares of iA Financial stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$131.00, for a total value of C$943,200.00. Also, Senior Officer Michael Lee Stickney sold 1,000 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. Corporate insiders own 0.09% of the company's stock.

iA Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.90 per share. This is a positive change from iA Financial's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.60 annualized dividend and a dividend yield of 2.78%. iA Financial's dividend payout ratio (DPR) is presently 43.91%.

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.