iA Financial (TSE:IAG) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• iA Financial shares rose above their 200-day moving average, reaching C$208.06 before closing at C$205.51, compared with the 200-day average of C$176.64.
• Analysts remain cautious: the consensus rating is “Hold” from nine analysts, with an average price target of C$213.61, despite several firms raising their targets to between C$218 and C$225.
• The company reported quarterly earnings of C$3.68 per share on C$3.05 billion in revenue, while insiders sold 52,000 shares worth approximately C$9.8 million over the past three months.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$176.64 and traded as high as C$208.06. iA Financial shares last traded at C$205.51, with a volume of 207,008 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on IAG shares. Desjardins raised their price objective on iA Financial from C$205.00 to C$220.00 and gave the stock a "hold" rating in a research report on Thursday, August 6th. TD boosted their price objective on shares of iA Financial from C$214.00 to C$218.00 and gave the company a "hold" rating in a report on Wednesday, August 5th. BMO Capital Markets upped their target price on shares of iA Financial from C$215.00 to C$225.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. Scotia increased their target price on shares of iA Financial from C$198.52 to C$223.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 6th. Finally, TD Securities cut shares of iA Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of C$213.61.

iA Financial Price Performance

The business has a 50 day simple moving average of C$200.09 and a 200 day simple moving average of C$176.64. The company has a market capitalization of C$18.16 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.26 and a beta of 0.92.

iA Financial (TSE:IAG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. The business had revenue of C$3.05 billion during the quarter. iA Financial had a return on equity of 13.70% and a net margin of 8.29%. On average, equities research analysts predict that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

Insider Activity at iA Financial

In other iA Financial news, insider Alain Bergeron sold 1,300 shares of iA Financial stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of C$189.20, for a total value of C$245,960.00. Also, insider Pierre Miron sold 15,000 shares of iA Financial stock in a transaction dated Friday, June 5th. The shares were sold at an average price of C$174.90, for a total value of C$2,623,500.00. Following the completion of the transaction, the insider directly owned 4,900 shares of the company's stock, valued at approximately C$857,010. This represents a 75.38% decrease in their ownership of the stock. Insiders sold 52,000 shares of company stock worth $9,805,015 in the last three months. 0.09% of the stock is owned by company insiders.

iA Financial Company Profile

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares). To learn more about iA Financial Group, you can sign up for our newsletter on our website at ia.ca. iA Financial Group is a business name and trademark of iA Financial Corporation Inc

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