Research Analysts Set Expectations for iA Financial Co. Inc.’s Q1 2024 Earnings (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Equities researchers at Cormark issued their Q1 2024 EPS estimates for shares of iA Financial in a research report issued to clients and investors on Thursday, April 25th. Cormark analyst L. Persaud anticipates that the company will post earnings of $2.37 per share 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.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, February 20th. The company reported C$2.34 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 firm had revenue of C$1.55 billion for the quarter.

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

iA Financial Price Performance

Shares of IAG stock opened at C$85.23 on Monday. iA Financial has a fifty-two week low of C$77.61 and a fifty-two week high of C$93.90. The company has a debt-to-equity ratio of 34.57, a quick ratio of 0.17 and a current ratio of 0.82. The firm has a market capitalization of C$8.49 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 1.26 and a beta of 1.13. The stock’s 50-day simple moving average is C$85.11 and its 200-day simple moving average is C$87.17.

iA Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $0.82 dividend. This is an increase from iA Financial’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $3.28 dividend on an annualized basis and a yield of 3.85%. iA Financial’s dividend payout ratio is presently 43.85%.

Insiders Place Their Bets

In other news, Senior Officer Alain Bergeron sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of C$86.63, for a total value of C$433,140.00. In other news, Senior Officer Michael Lee Stickney sold 1,400 shares of iA Financial stock in a transaction 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 company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$86.63, for a total transaction of C$433,140.00. Insiders have sold 11,400 shares of company stock valued at $975,169 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

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.