iA Financial Co. Inc. (TSE:IAG) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts maintain a “Hold” consensus on iA Financial: seven of nine covering firms rate it Hold, while two recommend Buy. Their average 12-month price target is C$217.17.
• Several brokerages raised their price targets, and RBC upgraded the stock from Hold to Moderate Buy. Recent targets include C$230 from Desjardins and C$225 from TD.
• iA Financial reported quarterly EPS of C$4.03 on C$3.06 billion in revenue and declared a quarterly dividend of C$1.18 per share, equivalent to a 2.2% yield.

Shares of iA Financial Co. Inc. (TSE:IAG - Get Free Report) have earned a consensus recommendation of "Hold" from the nine research firms that are covering the company, MarketBeat reports. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$217.17.

A number of equities research analysts have weighed in on IAG shares. Scotia raised their price target on iA Financial from C$198.52 to C$223.00 and gave the company a "sector perform" rating in a research report on Thursday, August 6th. Desjardins lifted their price target on iA Financial from C$220.00 to C$230.00 and gave the stock a "hold" rating in a research note on Wednesday. Canadian Imperial Bank of Commerce upped their price objective on iA Financial from C$208.00 to C$220.00 in a report on Thursday, August 6th. TD upped their price objective on iA Financial from C$219.00 to C$225.00 and gave the stock a "hold" rating in a report on Tuesday, November 10th. Finally, Royal Bank Of Canada upgraded iA Financial from a "hold" rating to a "moderate buy" rating in a research report on Wednesday.

iA Financial Stock Performance

iA Financial stock traded down C$2.53 during midday trading on Friday, hitting C$216.19. 206,044 shares of the company's stock were exchanged, compared to its average volume of 325,776. iA Financial has a 52-week low of C$145.44 and a 52-week high of C$225.14. The stock has a 50-day moving average price of C$210.55 and a two-hundred day moving average price of C$186.53. The company has a market cap of C$18.83 billion, a P/E ratio of 20.38, a PEG ratio of 1.26 and a beta of 0.74.

iA Financial (TSE:IAG - Get Free Report) last posted its quarterly earnings data on Monday, November 9th. The company reported C$4.03 earnings per share for the quarter. iA Financial had a net margin of 7.71% and a return on equity of 12.43%. The firm had revenue of C$3.06 billion for the quarter. As a group, sell-side analysts expect that iA Financial will post 11.62 earnings per share for the current year.

iA Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 15th will be paid a $1.18 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $4.72 annualized dividend and a yield of 2.2%. iA Financial's payout ratio is currently 39.40%.

About iA Financial

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). To learn more about iA Financial Group, you can sign up for our newsletter on our website at ia.ca. iA Financial Group is a business name and trademark of iA Financial Corporation Inc.

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