iA Financial Co. Inc. (TSE:IAG) Raises Dividend to $0.90 Per Share

iA Financial Co. Inc. (TSE:IAG) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Investors of record on Friday, November 22nd will be given a dividend of 0.90 per share on Monday, December 16th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Friday, November 22nd. This is a boost from iA Financial’s previous quarterly dividend of $0.82.

iA Financial Price Performance

Shares of TSE IAG traded down C$1.29 during mid-day trading on Thursday, reaching C$132.36. 84,370 shares of the company traded hands, compared to its average volume of 281,843. iA Financial has a fifty-two week low of C$80.95 and a fifty-two week high of C$134.29. The company has a debt-to-equity ratio of 46.39, a current ratio of 2.22 and a quick ratio of 0.17. The firm has a market cap of C$12.59 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The stock has a fifty day simple moving average of C$111.27 and a 200-day simple moving average of C$96.70.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported C$2.75 EPS for the quarter, beating analysts’ consensus estimates of C$2.58 by C$0.17. The business had revenue of C$1.64 billion for the quarter. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. Equities research analysts anticipate that iA Financial will post 11.6187564 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Cormark lifted their price target on shares of iA Financial from C$127.00 to C$130.00 in a research report on Wednesday. Cibc World Mkts raised shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Scotiabank raised their price objective on shares of iA Financial from C$110.00 to C$126.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Royal Bank of Canada raised their price objective on shares of iA Financial from C$102.00 to C$105.00 and gave the stock a “moderate buy” rating in a research note on Thursday, August 8th. Finally, National Bank Financial lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$117.13.

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.