iA Financial (TSE:IAG) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• iA Financial's share price has recently surpassed its 200-day moving average, closing at C$158.54 after trading as high as C$159.03.
• Analysts have mixed opinions on the stock, with BMO Capital raising its price target to C$160.00 while Cormark downgraded it to a "hold" rating.
• Two insiders recently sold significant amounts of iA Financial stock, with one transaction totaling over C$3 million, indicating a potential shift in insider sentiment.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$141.37 and traded as high as C$159.03. iA Financial shares last traded at C$158.54, with a volume of 223,300 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IAG. BMO Capital Markets increased their price objective on shares of iA Financial from C$148.00 to C$160.00 in a research note on Friday, July 11th. Cormark downgraded shares of iA Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Desjardins increased their price objective on shares of iA Financial from C$147.00 to C$149.00 and gave the stock a "hold" rating in a research note on Thursday, August 7th. National Bankshares increased their price objective on shares of iA Financial from C$141.00 to C$146.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 6th. Finally, Scotiabank upgraded shares of iA Financial to a "strong-buy" rating in a research note on Thursday, July 31st. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$145.88.

iA Financial Trading Up 0.2%

The firm has a market capitalization of C$14.73 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.26 and a beta of 0.85. The company's 50 day moving average is C$148.77 and its 200-day moving average is C$141.37.

Insider Activity

In other iA Financial news, insider St�Phanie Butt Thibodeau sold 3,000 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of C$149.00, for a total value of C$447,000.00. Also, insider Pierre Miron sold 20,000 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of C$150.60, for a total transaction of C$3,011,960.00. Following the completion of the transaction, the insider directly owned 4,900 shares in the company, valued at approximately C$737,930.20. This represents a 80.32% decrease in their ownership of the stock. 0.09% of the stock is owned by corporate insiders.

iA Financial Company Profile

iA Financial Corp Inc is a life and health insurance company. It offers life and health insurance products, savings and retirement plans, mutual funds, securities, auto and home insurance, mortgages, and others. The company operates and manages its activities according to five main reportable operating segments Individual Insurance, Individual Wealth Management, Group Insurance, Group Savings and Retirement, and US Operations.

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