iA Financial (TSE:IAG) Shares Cross Above 200-Day Moving Average - Should You Sell?

Key Points

• iA Financial shares moved above their 200-day moving average, reaching C$203.15 and closing at C$201.88, compared with the 200-day average of C$180.21.
• Analysts raised their price targets to between C$218 and C$225, but the consensus remains “Hold”, with an average target of C$213.61.
• The company reported quarterly earnings of C$3.68 per share and C$3.05 billion in revenue, while insiders sold 27,000 shares worth approximately C$5.44 million over the past quarter.

iA Financial Co. Inc. (TSE:IAG - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$180.21 and traded as high as C$203.15. iA Financial shares last traded at C$201.88, with a volume of 299,960 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD boosted their price target on shares of iA Financial from C$214.00 to C$218.00 and gave the stock a "hold" rating in a research report on Wednesday, August 5th. Desjardins increased their price objective on shares of iA Financial from C$205.00 to C$220.00 and gave the company a "hold" rating in a report on Thursday, August 6th. Scotia raised 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. Canadian Imperial Bank of Commerce boosted their target price on iA Financial from C$208.00 to C$220.00 in a report on Thursday, August 6th. Finally, BMO Capital Markets upped their price target on 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. One research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$213.61.

iA Financial Stock Down 1.0%

The company's 50-day moving average is C$204.18 and its 200-day moving average is C$180.21. The stock has a market capitalization of C$17.84 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.26 and a beta of 0.79.

iA Financial (TSE:IAG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. The company had revenue of C$3.05 billion for the quarter. iA Financial had a net margin of 8.29% and a return on equity of 13.70%. Sell-side analysts anticipate that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

Insider Activity at iA Financial

In related news, insider Alain Bergeron sold 1,300 shares of the firm's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of C$189.20, for a total transaction of C$245,960.00. Also, insider Renée Laflamme sold 12,500 shares of the business's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of C$211.86, for a total transaction of C$2,648,250.00. Following the completion of the sale, the insider owned 11,645 shares in the company, valued at approximately C$2,467,109.70. This trade represents a 51.77% decrease in their ownership of the stock. Insiders sold 27,000 shares of company stock valued at $5,441,115 over the last quarter. 0.09% of the stock is currently 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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