Cormark Comments on iA Financial Co. Inc.’s Q1 2024 Earnings (TSE:IAG)

iA Financial Co. Inc. (TSE:IAG) – Equities researchers at Cormark issued their Q1 2024 earnings per share estimates for shares of iA Financial in a report released on Thursday, April 25th. Cormark analyst L. Persaud expects that the company will earn $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 issued its quarterly earnings results 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 brokerages have also recently commented on IAG. Desjardins dropped their price target on iA Financial from C$94.00 to C$89.00 and set a “hold” rating for the company in a research report on Thursday, February 22nd. 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 report on Wednesday, January 31st. National Bankshares dropped their target price on iA Financial from C$104.00 to C$102.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Scotiabank dropped 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. Finally, BMO Capital Markets upped their target price on iA Financial from C$99.00 to C$101.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, iA Financial has a consensus rating of “Moderate Buy” and a consensus target price of C$77.22.

iA Financial Stock Down 2.1 %

Shares of IAG opened at C$83.46 on Monday. The company has a debt-to-equity ratio of 34.57, a quick ratio of 0.17 and a current ratio of 0.82. iA Financial has a one year low of C$77.61 and a one year high of C$93.90. The stock has a market capitalization of C$8.32 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.26 and a beta of 1.13. The stock has a 50 day moving average price of C$85.11 and a 200 day moving average price of C$87.17.

iA Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from iA Financial’s previous quarterly dividend of $0.77. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.93%. iA Financial’s dividend payout ratio is currently 43.85%.

Insider Transactions at iA Financial

In other news, Senior Officer Alain Bergeron sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of C$84.59, for a total transaction of C$422,937.00. In other news, Senior Officer Denis Ricard bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average price of C$86.00 per share, with a total value of C$344,000.00. Also, Senior Officer Alain Bergeron sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of C$84.59, for a total value of C$422,937.00. In the last ninety days, insiders 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.