iA Financial Co. Inc. (TSE:IAG) to Issue Quarterly Dividend of $0.90

iA Financial Co. Inc. (TSE:IAG) declared a quarterly dividend on Tuesday, February 18th,RTT News reports. Investors of record on Friday, February 28th will be given a dividend of 0.90 per share on Monday, March 17th. This represents a $3.60 annualized dividend and a dividend yield of 2.71%.

iA Financial Trading Up 2.0 %

IAG opened at C$132.87 on Wednesday. iA Financial has a 12-month low of C$80.95 and a 12-month high of C$138.01. The stock has a 50-day moving average price of C$131.91 and a 200-day moving average price of C$119.48. The stock has a market capitalization of C$12.47 billion, a P/E ratio of 12.66, a PEG ratio of 1.26 and a beta of 1.13.

Insider Activity

In other news, Senior Officer Éric Jobin sold 1,000 shares of iA Financial stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$136.91, for a total transaction of C$136,913.00. Also, Senior Officer Alain Bergeron sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, November 28th. The stock was sold at an average price of C$134.00, for a total value of C$368,500.00. Following the transaction, the insider now directly owns 500 shares of the company’s stock, valued at approximately C$67,000. The trade was a 84.62 % decrease in their ownership of the stock. Insiders have sold a total of 22,010 shares of company stock worth $2,976,055 over the last 90 days. 0.09% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of iA Financial from C$126.00 to C$140.00 in a report on Thursday, November 7th. Royal Bank of Canada cut shares of iA Financial from an “outperform” rating to a “sector perform” rating and lifted their price target for the company from C$105.00 to C$137.00 in a research report on Thursday, November 7th. Scotiabank cut iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Cibc World Mkts upgraded shares of iA Financial from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 30th. Finally, Cormark increased their price objective on iA Financial from C$127.00 to C$130.00 in a research report on Wednesday, November 6th. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, iA Financial presently has an average rating of “Moderate Buy” and an average target price of C$129.88.

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.