Scotiabank Forecasts Strong Price Appreciation for iA Financial (TSE:IAG) Stock

iA Financial (TSE:IAG) had its price objective increased by Scotiabank from C$110.00 to C$126.00 in a report released on Wednesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued reports about the company. BMO Capital Markets lifted their price target on iA Financial from C$102.00 to C$111.00 in a research report on Thursday, August 8th. CIBC boosted their target price on shares of iA Financial from C$106.00 to C$120.00 and gave the stock an “outperform” rating in a research report on Wednesday. National Bankshares downgraded shares of iA Financial from an “outperform” rating to a “sector perform” rating and increased their price target for the company from C$102.00 to C$118.00 in a report on Friday, October 25th. National Bank Financial downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, TD Securities increased their target price on shares of iA Financial from C$110.00 to C$114.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$111.00.

iA Financial Stock Performance

TSE:IAG opened at C$114.19 on Wednesday. The firm has a market capitalization of C$10.86 billion, a PE ratio of 15.29, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a 1 year low of C$80.95 and a 1 year high of C$119.25. The company has a current ratio of 2.22, a quick ratio of 0.17 and a debt-to-equity ratio of 46.39. The firm’s fifty day simple moving average is C$110.06 and its 200 day simple moving average is C$95.83.

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

iA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 23rd were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Friday, August 23rd. iA Financial’s dividend payout ratio is 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.