Cormark Comments on iA Financial's FY2024 Earnings (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG - Free Report) - Research analysts at Cormark increased their FY2024 earnings per share estimates for iA Financial in a report issued on Tuesday, February 4th. Cormark analyst L. Persaud now anticipates that the company will post earnings per share of $10.93 for the year, up from their previous forecast of $10.84. The consensus estimate for iA Financial's current full-year earnings is $11.62 per share. Cormark also issued estimates for iA Financial's FY2025 earnings at $12.10 EPS and FY2026 earnings at $13.13 EPS.

iA Financial (TSE:IAG - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.63 by C$0.30. iA Financial had a return on equity of 10.51% and a net margin of 9.02%.

A number of other brokerages also recently weighed in on IAG. Cibc World Mkts upgraded iA Financial from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 30th. Scotiabank downgraded iA Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday. TD Securities raised their price target on iA Financial from C$132.00 to C$135.00 in a research note on Wednesday, November 6th. National Bank Financial downgraded iA Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada cut shares of iA Financial from an "outperform" rating to a "sector perform" rating and lifted their target price for the company from C$105.00 to C$137.00 in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, iA Financial currently has a consensus rating of "Moderate Buy" and an average target price of C$129.88.

iA Financial Stock Up 1.5 %

Shares of IAG traded up C$1.99 during mid-day trading on Wednesday, reaching C$132.52. The company's stock had a trading volume of 468,212 shares, compared to its average volume of 193,030. The business has a fifty day moving average of C$132.58 and a 200 day moving average of C$117.22. The company has a market cap of C$12.61 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The company has a quick ratio of 0.17, a current ratio of 2.22 and a debt-to-equity ratio of 46.39. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$138.01.

Insider Transactions at iA Financial

In related news, Senior Officer Alain Bergeron sold 510 shares of the business's stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$133.58, for a total transaction of C$68,125.80. Also, Senior Officer Pierre Miron sold 15,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Over the last three months, insiders sold 49,810 shares of company stock worth $6,601,270. 0.09% of the stock is owned by 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.