National Bank Financial Lowers iA Financial (TSE:IAG) to Hold

National Bank Financial lowered shares of iA Financial (TSE:IAG) from a strong-buy rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

Several other analysts also recently weighed in on IAG. CIBC lifted their target price on shares of iA Financial from C$100.00 to C$106.00 in a report on Thursday, August 8th. TD Securities boosted their price objective on iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada raised their target price on iA Financial from C$102.00 to C$105.00 and gave the company a “moderate buy” rating in a report on Thursday, August 8th. BMO Capital Markets boosted their price target on shares of iA Financial from C$102.00 to C$111.00 in a research note on Thursday, August 8th. Finally, Scotiabank lifted their price objective on shares of iA Financial from C$100.00 to C$110.00 in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, iA Financial currently has a consensus rating of “Hold” and an average target price of C$107.25.

iA Financial Stock Down 2.5 %

IAG stock opened at C$112.94 on Thursday. iA Financial has a one year low of C$77.61 and a one year high of C$119.25. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22. The firm has a market cap of C$10.75 billion, a PE ratio of 15.12, a PEG ratio of 1.26 and a beta of 1.13. The firm’s 50 day moving average price is C$108.61 and its 200-day moving average price is C$94.83.

iA Financial (TSE:IAG) last issued its quarterly earnings data on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.58 by C$0.17. The firm had revenue of C$1.64 billion during the quarter. iA Financial had a return on equity of 10.51% and a net margin of 9.02%. On average, equities research analysts anticipate that iA Financial will post 11.6187564 EPS for the current year.

iA Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 23rd were paid a $0.82 dividend. The ex-dividend date was Friday, August 23rd. This represents a $3.28 dividend on an annualized basis and a yield of 2.90%. iA Financial’s dividend payout ratio is currently 43.91%.

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.