OTCPK:IDLL.F

Stock Analysis Report

Executive Summary

iA Financial Corporation Inc., through its subsidiary, Industrial Alliance Insurance and Financial Services Inc., provides various life and health insurance products in Canada and the United States.

Snowflake

Fundamentals

Undervalued established dividend payer.


Similar Companies

Share Price & News

How has iA Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0%

OTCPK:IDLL.F

1.2%

US Insurance

2.1%

US Market


1 Year Return

-21.6%

OTCPK:IDLL.F

8.9%

US Insurance

-0.04%

US Market

IDLL.F underperformed the Insurance industry which returned 3.6% over the past year.

IDLL.F underperformed the Market in United States of America which returned 9.4% over the past year.


Share holder returns

IDLL.FIndustryMarket
7 Day0%1.2%2.1%
30 Day0%-2.8%-3.2%
90 Day0%2.0%2.8%
1 Year-19.0%-21.6%11.5%8.9%2.2%-0.04%
3 Yearn/a44.1%33.2%41.5%32.3%
5 Year-13.0%-22.7%65.2%45.6%55.0%37.8%

Price Volatility Vs. Market

How volatile is iA Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is iA Financial undervalued based on future cash flows and its price relative to the stock market?

41%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

iA Financial's share price is below the future cash flow value, and at a moderate discount (> 20%).

iA Financial's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

iA Financial is good value based on earnings compared to the US Insurance industry average.

iA Financial is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

iA Financial is poor value based on expected growth next year.


Price Based on Value of Assets

iA Financial is good value based on assets compared to the US Insurance industry average.


Next Steps

Future Growth

How is iA Financial expected to perform in the next 1 to 3 years based on estimates from 8 analysts?

5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if iA Financial is high growth as no revenue estimate data is available.

iA Financial's earnings are expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).

Unable to compare iA Financial's revenue growth to the United States of America market average as no estimate data is available.

iA Financial's earnings growth is positive but not above the United States of America market average.

iA Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

iA Financial is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has iA Financial performed over the past 5 years?

10.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

iA Financial's year on year earnings growth rate has been positive over the past 5 years.

iA Financial's 1-year earnings growth exceeds its 5-year average (19% vs 10.8%)

iA Financial's earnings growth has exceeded the US Insurance industry average in the past year (19% vs -6.7%).


Return on Equity

iA Financial has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

iA Financial used its assets less efficiently than the US Insurance industry average last year based on Return on Assets.


Return on Capital Employed

iA Financial has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is iA Financial's financial position?


Financial Position Analysis

iA Financial's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

iA Financial's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

iA Financial's level of debt (38.4%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (37.5% vs 38.4% today).

Debt is not well covered by operating cash flow (17.8%, less than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 16x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 2x debt.


Next Steps

Dividend

What is iA Financial's current dividend yield, its reliability and sustainability?

3.71%

Expected Dividend Yield


Dividend Yield and Payments Analysis

iA Financial's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).

iA Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.68%).

Dividends per share have been stable in the past 10 years.

Dividends per share have increased over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (3.5x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).


Next Steps

Management

What is the CEO of iA Financial's salary, the management and board of directors tenure and is there insider trading?

9.3yrs

Average management tenure


CEO

Denis Ricard (56yo)

0.6yrs

Tenure

CA$2,335,133

Compensation

Mr. Denis Yves Ricard, F.S.A., F.C.I.A. has been President and Chief Executive Officer of iA Financial Corporation Inc. (Also known as Industrial Alliance Insurance and Financial Services Inc) since Septem ...


CEO Compensation Analysis

Denis's remuneration is lower than average for companies of similar size in United States of America.

Denis's compensation has been consistent with company performance over the past year.


Management Age and Tenure

9.3yrs

Average Tenure

The average tenure for the iA Financial management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

4.9yrs

Average Tenure

60yo

Average Age

The tenure for the iA Financial board of directors is about average.


Insider Trading

iA Financial insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

SellCA$75,48523 May 19
Michel Tremblay
EntityIndividual
Role
Chief Investment Officer
Executive VP & Chief Investment Officer
Shares2,000
Max PriceCA$37.74
SellCA$184,51428 Mar 19
Michel Tremblay
EntityIndividual
Role
Chief Investment Officer
Executive VP & Chief Investment Officer
Shares5,000
Max PriceCA$36.90
SellCA$183,78626 Mar 19
Michel Tremblay
EntityIndividual
Role
Chief Investment Officer
Executive VP & Chief Investment Officer
Shares5,000
Max PriceCA$36.76
SellCA$182,77025 Mar 19
Michel Tremblay
EntityIndividual
Role
Chief Investment Officer
Executive VP & Chief Investment Officer
Shares5,000
Max PriceCA$36.55
BuyCA$38,83826 Feb 19
Jacques Martin
EntityIndividual
Role
Chairman of the Board
Chairman
Shares1,000
Max PriceCA$38.84
SellCA$80,12411 Jan 19
Michael Stickney
EntityIndividual
Shares27,400
Max PriceCA$40.06

Ownership Breakdown


Management Team

  • Michel Tremblay (63yo)

    Executive VP & Chief Investment Officer

    • Tenure: 7.3yrs
    • Compensation: CA$2.18m
  • Gary Coles

    Senior Vice President of Administration & Group Insurance

    • Tenure: 0.0yrs
  • Paul Grimes

    Senior Vice President of Sales - Ontario & Western Canada

    • Tenure: 14.3yrs
  • Alnoor Jiwani

    Senior Vice President of Business Development & Finance Dealer Services

    • Tenure: 0.0yrs
  • Bruno Michaud

    Senior Vice President of Administration & Sales

    • Tenure: 12.3yrs
  • Normand Pépin

    Executive VP & Assistant to the President

    • Tenure: 23.3yrs
    • Compensation: CA$1.73m
  • Denis Ricard (56yo)

    CEO, President & Director

    • Tenure: 0.6yrs
    • Compensation: CA$2.34m
  • Grace Pollock

    Director

    • Tenure: 9.3yrs
  • Jacques Potvin

    Executive VP

    • Tenure: 1.2yrs
  • Lyne Pelchat

    Vice-President of Accounting & Taxation

    • Tenure: 0.0yrs

Board Members

  • Robert Coallier (57yo)

    Director

    • Tenure: 11.2yrs
    • Compensation: CA$127.21k
  • Claude Lamoureux (75yo)

    Director

    • Tenure: 8.9yrs
    • Compensation: CA$114.00k
  • Yvon Charest (61yo)

    Director

    • Tenure: 19.9yrs
    • Compensation: CA$2.44m
  • Denis Ricard (56yo)

    CEO, President & Director

    • Tenure: 0.6yrs
    • Compensation: CA$2.34m
  • Danielle Morin (62yo)

    Director

    • Tenure: 4.9yrs
    • Compensation: CA$110.82k
  • Mary Ritchie (61yo)

    Independent Director

    • Tenure: 15.9yrs
    • Compensation: CA$112.00k
  • Michael Hanley (52yo)

    Director

    • Tenure: 3.9yrs
    • Compensation: CA$128.87k
  • Jacques Martin (62yo)

    Chairman

    • Tenure: 0.6yrs
    • Compensation: CA$127.00k
  • Emma Griffin (45yo)

    Director

    • Tenure: 2.4yrs
    • Compensation: CA$96.37k
  • Agathe Côté (59yo)

    Director

    • Tenure: 2.9yrs
    • Compensation: CA$99.50k

Company Information

iA Financial Corporation Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: iA Financial Corporation Inc.
  • Ticker: IDLL.F
  • Exchange: OTCPK
  • Founded: 1892
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: CA$5.473b
  • Listing Market Cap: CA$4.096b
  • Shares outstanding: 106.94m
  • Website: https://www.ia.ca

Number of Employees


Location

  • iA Financial Corporation Inc.
  • 1080 Grande Allée West
  • Station Terminus
  • Québec
  • Quebec
  • G1K 7M3
  • Canada

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
IDLL.FOTCPK (Pink Sheets LLC)YesNew Common SharesUSUSDFeb 2000
IAGTSX (The Toronto Stock Exchange)YesNew Common SharesCACADFeb 2000
1ODDB (Deutsche Boerse AG)YesNew Common SharesDEEURFeb 2000
IAF.PRBTSX (The Toronto Stock Exchange)PFD SER BCACADFeb 2006
IAF.PRGTSX (The Toronto Stock Exchange)4.3 NCM 5Y PFD GCACADJun 2012
IAF.PRITSX (The Toronto Stock Exchange)NON CUM PDF A ICACADMar 2018

Biography

iA Financial Corporation Inc., through its subsidiary, Industrial Alliance Insurance and Financial Services Inc., provides various life and health insurance products in Canada and the United States. The co ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/04/03 01:26
End of Day Share Price2019/01/03 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.