iA Financial (TSE:IAG) Downgraded by Royal Bank of Canada to “Sector Perform”

Royal Bank of Canada lowered shares of iA Financial (TSE:IAG) from an outperform rating to a sector perform rating in a report released on Thursday,BayStreet.CA reports. The firm currently has C$137.00 price objective on the stock, up from their previous price objective of C$105.00.

Other research analysts have also issued research reports about the stock. National Bank Financial lowered shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Cibc World Mkts upgraded shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 30th. National Bankshares lifted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research report on Wednesday. TD Securities boosted their price target on shares of iA Financial from C$132.00 to C$135.00 in a research note on Wednesday. Finally, CIBC upped their price target on shares of iA Financial from C$106.00 to C$120.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$128.50.

iA Financial Trading Down 1.7 %

TSE IAG traded down C$2.19 during trading on Thursday, hitting C$128.20. 117,378 shares of the company’s stock traded hands, compared to its average volume of 283,610. 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 fifty day moving average of C$111.83 and a two-hundred day moving average of C$97.04. The firm has a market cap of C$12.20 billion, a P/E ratio of 17.46, a PEG ratio of 1.26 and a beta of 1.13. iA Financial has a 12-month low of C$80.95 and a 12-month high of C$134.29.

iA Financial (TSE:IAG) last issued its earnings results on Tuesday, August 6th. The company reported C$2.75 earnings per share (EPS) for the quarter, topping 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 net margin of 9.02% and a return on equity of 10.51%. As a group, sell-side analysts expect that iA Financial will post 11.6187564 EPS for the current year.

iA Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, November 22nd. This is a positive change from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s payout ratio is 43.91%.

Insider Activity

In other iA Financial news, Senior Officer Michael Lee Stickney sold 1,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of C$130.60, for a total transaction of C$130,600.00. 0.09% of the stock is owned by corporate insiders.

iA Financial Company Profile

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.