iA Financial Co. Inc. (TSE:IAG) to Issue $0.82 Quarterly Dividend

iA Financial Co. Inc. (TSE:IAG) announced a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Friday, May 24th will be paid a dividend of 0.82 per share on Monday, June 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Thursday, May 23rd.

iA Financial Stock Performance

IAG stock opened at C$92.45 on Wednesday. The firm has a 50-day simple moving average of C$85.78 and a two-hundred day simple moving average of C$88.00. The company has a debt-to-equity ratio of 20.96, a quick ratio of 0.17 and a current ratio of 5.50. iA Financial has a one year low of C$77.61 and a one year high of C$93.90. The firm has a market cap of C$9.09 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 1.26 and a beta of 1.13.

iA Financial (TSE:IAG) last announced its earnings results on Tuesday, February 20th. The company reported C$2.34 earnings per share 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 9.28% and a return on equity of 10.54%. On average, equities analysts forecast that iA Financial will post 10.3700341 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Denis Ricard purchased 4,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was acquired at an average price of C$86.00 per share, for a total transaction of C$344,000.00. In other iA Financial news, Senior Officer Denis Ricard acquired 4,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average cost of C$86.00 per share, with a total value of C$344,000.00. Also, 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 transaction of C$91,420.00. In the last quarter, insiders have sold 32,400 shares of company stock valued at $2,898,695. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IAG. Cormark boosted their price target on iA Financial from C$103.00 to C$105.00 in a research note on Friday, May 10th. CIBC upgraded shares of iA Financial from a “neutral” rating to an “outperform” rating and upped their price target for the company from C$97.00 to C$100.00 in a research note on Friday, May 10th. National Bankshares reduced their price objective on iA Financial from C$104.00 to C$102.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Desjardins cut their price target 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. Finally, Scotiabank decreased their price objective on shares of iA Financial from C$104.00 to C$95.00 and set an “outperform” rating for the company in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, iA Financial has a consensus rating of “Moderate Buy” and an average price target of C$89.72.

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.