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 dropped their Q1 2024 earnings estimates for shares of iA Financial in a report released on Thursday, April 25th. National Bank Financial analyst G. Dechaine now expects that the company will post earnings of $2.37 per share for the quarter, down from their previous forecast 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.

A number of other equities analysts have also recently issued reports on the stock. CIBC upped their price objective on shares of iA Financial from C$95.00 to C$97.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their price objective on shares of iA Financial from C$99.00 to C$101.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Desjardins reduced their target price on shares of iA Financial from C$94.00 to C$89.00 and set a “hold” rating on the stock in a report on Thursday, February 22nd. National Bankshares reduced their target price on shares of iA Financial from C$104.00 to C$102.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Finally, Scotiabank reduced their target price on shares of iA Financial from C$104.00 to C$95.00 and set an “outperform” rating on the stock in a report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$77.22.

iA Financial Price Performance

IAG stock opened at C$83.46 on Monday. The company has a 50 day simple moving average of C$85.11 and a 200 day simple moving average of C$87.17. The stock has a market cap of C$8.32 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 1.26 and a beta of 1.13. iA Financial has a 1 year low of C$77.61 and a 1 year high of C$93.90. The company has a debt-to-equity ratio of 34.57, a current ratio of 0.82 and a quick ratio of 0.17.

iA Financial (TSE:IAG) last issued its 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). The firm had revenue of C$1.55 billion during the quarter. iA Financial had a net margin of 9.95% and a return on equity of 11.14%.

iA Financial Increases Dividend

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

Insiders Place Their Bets

In other news, Senior Officer Michael Lee Stickney sold 1,400 shares of the 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. In other news, Senior Officer Michael Lee Stickney sold 1,400 shares of the 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 Alain Bergeron sold 5,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of C$86.63, for a total transaction of C$433,140.00. Over the last 90 days, insiders have sold 11,400 shares of company stock worth $975,169. Insiders own 0.15% 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.