iA Financial (TSE:IAG) Price Target Raised to C$100.00 at Scotiabank

iA Financial (TSE:IAG) had its target price hoisted by Scotiabank from C$98.00 to C$100.00 in a research report report published on Thursday, MarketBeat.com reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts also recently issued reports on IAG. Royal Bank of Canada increased their target price on shares of iA Financial from C$101.00 to C$102.00 in a research report on Friday, May 10th. TD Securities lifted their price objective on iA Financial from C$108.00 to C$110.00 in a research report on Friday, July 12th. CIBC raised iA Financial from a neutral rating to an outperform rating and upped their target price for the stock from C$97.00 to C$100.00 in a research report on Friday, May 10th. Cormark lifted their price target on iA Financial from C$103.00 to C$105.00 in a report on Friday, May 10th. Finally, BMO Capital Markets increased their price objective on iA Financial from C$101.00 to C$102.00 in a report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, iA Financial presently has a consensus rating of Moderate Buy and a consensus target price of C$90.50.

iA Financial Price Performance

Shares of TSE IAG opened at C$89.80 on Thursday. The firm has a 50-day moving average of C$87.97 and a two-hundred day moving average of C$87.68. The company has a market capitalization of C$8.83 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.26 and a beta of 1.11. The company has a current ratio of 2.31, a quick ratio of 0.17 and a debt-to-equity ratio of 46.17. iA Financial has a twelve month low of C$77.61 and a twelve month high of C$94.25.

iA Financial (TSE:IAG) last issued its earnings results on Thursday, May 9th. The company reported C$2.44 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.38 by C$0.06. The firm had revenue of C$1.60 billion during the quarter. iA Financial had a net margin of 9.25% and a return on equity of 10.54%. As a group, analysts expect that iA Financial will post 10.3022222 earnings per share for the current fiscal year.

iA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 24th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Thursday, May 23rd. iA Financial’s dividend payout ratio is currently 45.30%.

Insiders Place Their Bets

In other news, Senior Officer Alain Bergeron sold 5,000 shares of iA Financial stock in a transaction dated Monday, May 27th. The stock was sold at an average price of C$93.42, for a total value of C$467,091.50. Following the transaction, the insider now directly owns 500 shares in the company, valued at C$46,709.15. In related news, Senior Officer Michael Lee Stickney sold 1,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of C$91.42, for a total value of C$91,420.00. Also, Senior Officer Alain Bergeron sold 5,000 shares of the business’s stock in a transaction on Monday, May 27th. The shares were sold at an average price of C$93.42, for a total transaction of C$467,091.50. Following the completion of the sale, the insider now owns 500 shares in the company, valued at approximately C$46,709.15. Insiders sold a total of 31,000 shares of company stock valued at $2,850,331 in the last quarter. Insiders own 0.09% of the company’s stock.

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.