iA Financial Co. Inc. (TSE:IAG) Forecasted to Post Q1 2024 Earnings of $2.37 Per Share

iA Financial Co. Inc. (TSE:IAG) – Investment analysts at National Bank Financial decreased their Q1 2024 earnings per share estimates for shares of iA Financial in a research note issued to investors on Thursday, April 25th. National Bank Financial analyst G. Dechaine now anticipates that the company will earn $2.37 per share for the quarter, down from their previous estimate of $2.50. The consensus estimate for iA Financial’s current full-year earnings is $10.34 per share. National Bank Financial also issued estimates for iA Financial’s Q2 2024 earnings at $2.59 EPS, Q3 2024 earnings at $2.68 EPS and Q4 2024 earnings at $2.62 EPS.

Several other analysts also recently weighed in on IAG. National Bankshares lowered their target price on 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. CIBC raised their target price on iA Financial from C$95.00 to C$97.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Desjardins lowered their target price 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 lowered their target price on iA Financial from C$104.00 to C$95.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. Finally, BMO Capital Markets raised their target price on iA Financial from C$99.00 to C$101.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, iA Financial currently has an average rating of “Moderate Buy” and a consensus price target of C$77.22.

iA Financial Stock Down 2.1 %

Shares of TSE IAG opened at C$83.46 on Monday. iA Financial has a 12-month low of C$77.61 and a 12-month high of C$93.90. The company has a market cap of C$8.32 billion, a P/E ratio of 11.16, 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 stock has a fifty day moving average price of C$85.11 and a 200 day moving average price of C$87.17.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, February 20th. The company reported C$2.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of C$1.55 billion during the quarter.

Insider Transactions at iA Financial

In related news, Senior Officer Denis Ricard purchased 4,000 shares of iA Financial stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of C$86.00 per share, with a total value of C$344,000.00. In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,400 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of C$85.07, for a total value of C$119,091.98. Also, Senior Officer Denis Ricard bought 4,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of C$86.00 per share, for a total transaction of C$344,000.00. Over the last 90 days, insiders have sold 11,400 shares of company stock valued at $975,169. Insiders own 0.15% of the company’s stock.

iA Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.82 per share. This is a boost 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 annualized dividend and a dividend yield of 3.93%. iA Financial’s dividend payout ratio (DPR) is presently 43.85%.

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.