iA Financial (TSE:IAG) Reaches New 12-Month High After Dividend Announcement

iA Financial Co. Inc. (TSE:IAG)’s share price hit a new 52-week high during trading on Wednesday following a dividend announcement from the company. The company traded as high as C$141.88 and last traded at C$139.94, with a volume of 75594 shares changing hands. The stock had previously closed at C$132.87.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.79%. iA Financial’s dividend payout ratio (DPR) is 31.25%.

Analyst Ratings Changes

Several equities analysts have issued reports on IAG shares. TD Securities upped their price objective on shares of iA Financial from C$143.00 to C$146.00 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank downgraded iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Desjardins boosted their price target on shares of iA Financial from C$140.00 to C$145.00 and gave the stock a “hold” rating in a research note on Thursday. Cibc World Mkts upgraded iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. Finally, Cormark boosted their price target on iA Financial from C$127.00 to C$130.00 in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$140.63.

iA Financial Stock Down 3.3 %

The company has a market capitalization of C$12.13 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 1.26 and a beta of 1.13. The stock has a fifty day moving average price of C$131.75 and a two-hundred day moving average price of C$120.05.

Insider Buying and Selling at iA Financial

In other news, Director Denis Ricard sold 5,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of C$137.00, for a total transaction of C$685,000.00. Also, Senior Officer Alain Bergeron sold 2,750 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of C$133.64, for a total value of C$367,515.78. In the last ninety days, insiders have sold 11,010 shares of company stock worth $1,489,142. Corporate insiders own 0.09% of the company’s stock.

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.