skip to content
  1. Home
  2. >
  3. Questions
  4. >
  5. IAG: Thoughts on earnings. [iA Financial Corporation Inc.]
You can view 2 more answers this month. Sign up for a free trial for unlimited access.

Investment Q&A

Not investment advice or solicitation to buy/sell securities. Do your own due diligence and/or consult an advisor.

Q: Thoughts on Thanks.
Asked by dan on February 22, 2024
5i Research Answer:

For Q4, EPS came in at $2.34 missing analysts' estimates of $2.48. Results missed expectations primarily due to weaker than expected U.S. segment performance (especially Warranty business), along with higher expense growth (both in Corporate and U.S. segments). Net income attributable to common shareholders increased from $181M ($1.71 per diluted share) to $248M ($2.46 per diluted share) in Q4. Core return on shareholders equity was 14.4%, unchanged from last year. Assets under management were $218.9B in the quarter, compared with $197.4B in the year prior. IAG did raise its dividend by 7% which was a positive sign. Despite missing estimates, IAG continues to show positive earnings and dividend growth while at an attractive valuation. As the insurance and financials environment improves, IAG should be able to exhibit some more growth. We would keep it as a HOLD.