iA Financial Co. Inc. to Post FY2024 Earnings of $10.31 Per Share, Cormark Forecasts (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Research analysts at Cormark lowered their FY2024 earnings estimates for shares of iA Financial in a report released on Thursday, April 25th. Cormark analyst L. Persaud now forecasts that the company will post earnings per share of $10.31 for the year, down from their prior estimate of $10.34. The consensus estimate for iA Financial’s current full-year earnings is $10.34 per share.

iA Financial (TSE:IAG) last issued its earnings results 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). iA Financial had a net margin of 9.95% and a return on equity of 11.14%. The business had revenue of C$1.55 billion during the quarter.

Several other research firms also recently issued reports on IAG. National Bankshares dropped their price target on shares of 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. Desjardins dropped their price target on shares of iA Financial from C$94.00 to C$89.00 and set a “hold” rating on the stock in a research note on Thursday, February 22nd. BMO Capital Markets lifted their price target on shares of iA Financial from C$99.00 to C$101.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Scotiabank dropped their price target on shares of 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, CIBC lifted their price target on shares of 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. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$77.22.

iA Financial Stock Performance

Shares of IAG stock opened at C$84.76 on Friday. iA Financial has a 52 week low of C$77.61 and a 52 week high of C$93.90. The company has a market cap of C$8.45 billion, a PE ratio of 11.33, a P/E/G ratio of 1.26 and a beta of 1.13. The company has a current ratio of 0.82, a quick ratio of 0.17 and a debt-to-equity ratio of 34.57. The company’s fifty day simple moving average is C$85.41 and its 200-day simple moving average is C$87.15.

iA Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.82 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $3.28 annualized dividend and a dividend yield of 3.87%. This is an increase from iA Financial’s previous quarterly dividend of $0.77. iA Financial’s payout ratio is presently 43.85%.

Insider Transactions at iA Financial

In related news, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$84.59, for a total transaction of C$422,937.00. In other iA Financial news, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of C$84.59, for a total transaction of C$422,937.00. Also, Senior Officer Michael Lee Stickney sold 1,400 shares of the company’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. In the last 90 days, insiders sold 11,400 shares of company stock valued at $975,169. Insiders own 0.15% of the company’s stock.

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.