iA Financial (TSE:IAG) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Price breakout: iA Financial's shares crossed above its 200-day moving average (C$164.25), trading as high as C$168.95 and last at C$168.47 on volume of 163,041.
• Analyst view: The consensus is a "Hold" rating (one Buy, six Hold) with an average target of C$176.14 after several recent price-target cuts by major banks.
• Insider buying: Director Denis Ricard bought 6,000 shares at C$152 and another insider bought 1,000 shares, modestly increasing insider ownership to 0.09%, suggesting management confidence.

Shares of iA Financial Co. Inc. (TSE:IAG - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$164.25 and traded as high as C$168.95. iA Financial shares last traded at C$168.47, with a volume of 163,041 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IAG shares. Royal Bank Of Canada set a C$167.00 target price on shares of iA Financial and gave the stock a "sector perform" rating in a research report on Monday, January 19th. Scotiabank reduced their target price on iA Financial from C$188.00 to C$174.00 in a report on Thursday, February 19th. TD Securities decreased their price target on iA Financial from C$192.00 to C$189.00 and set a "buy" rating for the company in a research report on Wednesday, February 18th. BMO Capital Markets dropped their price target on iA Financial from C$185.00 to C$175.00 in a report on Thursday, February 19th. Finally, National Bank Financial cut their price objective on iA Financial from C$190.00 to C$181.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$176.14.

iA Financial Stock Performance

The firm has a market capitalization of C$15.30 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86. The business's 50 day moving average is C$157.48 and its two-hundred day moving average is C$164.25.

iA Financial (TSE:IAG - Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported C$3.10 earnings per share (EPS) for the quarter. iA Financial had a return on equity of 13.62% and a net margin of 10.11%.The firm had revenue of C$3.23 billion for the quarter. As a group, equities research analysts predict that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

Insiders Place Their Bets

In related news, Director Denis Ricard acquired 6,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were acquired at an average price of C$152.00 per share, with a total value of C$912,000.00. Following the acquisition, the director owned 56,000 shares of the company's stock, valued at approximately C$8,512,000. This trade represents a 12.00% increase in their position. Also, insider Ï¿½Ric Jobin bought 1,000 shares of the business's stock in a transaction on Thursday, February 19th. The stock was bought at an average price of C$151.82 per share, with a total value of C$151,820.00. Following the purchase, the insider owned 1,941 shares in the company, valued at C$294,682.62. This trade represents a 106.27% increase in their ownership of the stock. 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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