Cormark Has Strong Estimate for iA Financial FY2024 Earnings

iA Financial Co. Inc. (TSE:IAG) – Stock analysts at Cormark boosted their FY2024 EPS estimates for shares of iA Financial in a research note issued on Tuesday, February 4th. Cormark analyst L. Persaud now forecasts that the company will post earnings per share of $10.93 for the year, up from their prior estimate of $10.84. The consensus estimate for iA Financial’s current full-year earnings is $11.62 per share. Cormark also issued estimates for iA Financial’s FY2025 earnings at $12.10 EPS and FY2026 earnings at $13.13 EPS.

IAG has been the subject of several other research reports. National Bank Financial cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. CIBC increased their price target on shares of iA Financial from C$143.00 to C$144.00 in a research note on Thursday, January 30th. Scotiabank cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday. National Bankshares increased their price target on shares of iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th. Finally, TD Securities increased their price target on shares of iA Financial from C$132.00 to C$135.00 in a research note on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, iA Financial has an average rating of “Moderate Buy” and a consensus target price of C$129.88.

iA Financial Stock Performance

iA Financial stock opened at C$130.62 on Wednesday. The firm has a 50 day simple moving average of C$132.64 and a 200-day simple moving average of C$116.59. iA Financial has a 1-year low of C$80.95 and a 1-year high of C$138.01. 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 stock has a market cap of C$12.43 billion, a price-to-earnings ratio of 17.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.63 by C$0.30. iA Financial had a net margin of 9.02% and a return on equity of 10.51%.

Insider Buying and Selling

In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of C$130.60, for a total transaction of C$130,600.00. Also, Senior Officer Pierre Miron sold 15,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. In the last quarter, insiders sold 58,010 shares of company stock valued at $7,675,070. Company 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.