Brokerages Set iA Financial Co. Inc. (TSE:IAG) Price Target at C$94.06

Shares of iA Financial Co. Inc. (TSE:IAG) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is C$105.25.

A number of equities research analysts have recently weighed in on IAG shares. Cormark boosted their price target on iA Financial from C$103.00 to C$105.00 in a report on Friday, May 10th. Royal Bank of Canada boosted their price objective on iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a research report on Thursday, August 8th. Scotiabank boosted their price objective on iA Financial from C$100.00 to C$110.00 in a research report on Thursday, August 8th. CIBC boosted their price objective on iA Financial from C$100.00 to C$106.00 in a research report on Thursday, August 8th. Finally, BMO Capital Markets boosted their price objective on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th.

iA Financial Price Performance

Shares of TSE IAG opened at C$99.73 on Monday. iA Financial has a twelve month low of C$77.61 and a twelve month high of C$102.05. The company has a current ratio of 6.92, a quick ratio of 0.17 and a debt-to-equity ratio of 20.29. The company has a market capitalization of C$9.49 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 1.26 and a beta of 1.11. The business has a 50 day simple moving average of C$89.49 and a 200-day simple moving average of C$88.13.

iA Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be issued a $0.82 dividend. The ex-dividend date is Friday, August 23rd. This represents a $3.28 annualized dividend and a dividend yield of 3.29%. iA Financial’s dividend payout ratio (DPR) is 43.91%.

Insider Activity

In other news, Senior Officer Alain Bergeron sold 5,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of C$91.94, for a total value of C$459,713.00. Following the completion of the sale, the insider now owns 500 shares in the company, valued at C$45,971.30. Insiders sold a total of 15,000 shares of company stock worth $1,386,841 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

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.