iA Financial (TSE:IAG) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• iA Financial shares recently crossed above the 200-day moving average, hitting a high of C$157.63 before closing at C$155.15.
• Analysts have mixed reviews on iA Financial, with price targets ranging from C$145.88 and recent upgrades from firms such as Scotiabank and BMO Capital Markets.
• Insider transactions included a notable sale where Pierre Miron sold 20,000 shares for approximately C$3 million, indicating a significant reduction in his ownership.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$140.21 and traded as high as C$157.63. iA Financial shares last traded at C$155.15, with a volume of 138,683 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have issued reports on IAG. Cormark cut iA Financial from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Desjardins lifted their price objective on iA Financial from C$147.00 to C$149.00 and gave the company a "hold" rating in a research note on Thursday, August 7th. Royal Bank Of Canada lifted their price objective on iA Financial from C$142.00 to C$151.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Scotiabank upgraded iA Financial to a "strong-buy" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets lifted their price objective on iA Financial from C$148.00 to C$160.00 in a research note on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$145.88.

iA Financial Stock Performance

The firm has a market cap of C$14.41 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.26 and a beta of 0.85. The stock has a fifty day simple moving average of C$147.41 and a 200 day simple moving average of C$140.21.

Insider Buying and Selling at iA Financial

In related news, insider Pierre Miron sold 20,000 shares of iA Financial stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of C$150.60, for a total value of C$3,011,960.00. Following the completion of the sale, the insider owned 4,900 shares of the company's stock, valued at C$737,930.20. The trade was a 80.32% decrease in their ownership of the stock. Also, insider St�Phanie Butt Thibodeau sold 3,000 shares of iA Financial stock in a transaction on Thursday, August 21st. The stock was sold at an average price of C$149.00, for a total value of C$447,000.00. Insiders own 0.09% of the company's stock.

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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