iA Financial's FY2024 Earnings Projection Elevated by Cormark

iA Financial Co. Inc. (TSE:IAG - Free Report) has recently seen an upgrade to its FY2024 earnings predictions by equities research analysts at Cormark. This update was communicated to investors on Wednesday, November 6th. Analyst L. Persaud from Cormark now anticipates that iA Financial will report earnings of $10.84 per share, which is an increase from the previous estimate of $10.54.

The current consensus for iA Financial's full-year earnings stands at $11.62 per share. Additionally, Cormark has projected estimates for FY2025, with expected earnings of $12.05 per share.

iA Financial has also been featured in several other research reports by different banks and equity analysts. For example, National Bankshares raised their price target on iA Financial from C$118.00 to C$121.00. In another report dated October 24th, National Bank Financial downgraded the stock from a "strong-buy" rating to a "hold" rating. Similarly, TD Securities increased their price target for the company from C$132.00 to C$135.00, while Scotiabank raised their target from C$126.00 to C$143.00.

Meanwhile, Cibc World Markets upgraded iA Financial from a "hold" rating to a "strong-buy" rating. As it stands, the stock has received a mix of opinions from analysts, with four ratings suggesting a hold, four suggesting a buy, and one recommending a strong buy. According to MarketBeat.com, iA Financial has an overall consensus rating of "Moderate Buy" and an average price target of C$128.50.

Market Performance of iA Financial

As for the stock performance, shares of TSE IAG opened at C$130.39 on Friday. The company holds a market capitalization of C$12.41 billion, with a P/E ratio of 17.46 and a beta of 1.13. iA Financial's 50-day moving average price is C$111.83, while its 200-day moving average price is C$97.04. The firm reports a debt-to-equity ratio of 46.39, a quick ratio of 0.17, and a current ratio of 2.22. Notably, the stock has registered a 52-week low of C$80.95 and a high of C$134.29.

Recent Dividends Announced

In recent developments, iA Financial declared a quarterly dividend that will be distributed on Monday, December 16th. Shareholders who are on record as of Friday, November 22nd, will receive a dividend of $0.90 per share. This represents an annualized dividend of $3.60, yielding a 2.76% return on investment. The ex-dividend date is also set for November 22nd. This new dividend is an increase from the previous quarterly payout of $0.82, marking a positive adjustment for investors. Currently, iA Financial maintains a payout ratio of 43.91%.

About iA Financial

iA Financial Corporation Inc. offers a range of insurance and wealth management services across Canada and the United States. Its operations are divided into several segments, including Insurance, Wealth Management, Investment, and U.S. Operations. The firm provides various insurance products, including health, auto, and home insurance, as well as life insurance and investment services.

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