iA Financial (TSE:IAG) Stock Breaks Above 200-Day Moving Average - Here's What Happened

Key Points

• iA Financial shares broke above their 200-day moving average, reaching C$211.13 before closing at C$210.18, up 2.6%. The stock’s 200-day average is C$190.12.
• Analysts raised their price targets, with estimates ranging from C$216 to C$225, but the overall consensus remains “Hold” with a C$213.61 target.
• The company reported quarterly EPS of C$3.68 on C$3.05 billion in revenue. Separately, insider Renée Laflamme sold 12,500 shares worth approximately C$2.65 million, reducing her ownership by 51.77%.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$190.12 and traded as high as C$211.13. iA Financial shares last traded at C$210.18, with a volume of 321,311 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BMO Capital Markets increased their price target on iA Financial from C$215.00 to C$225.00 and gave the stock an "outperform" rating in a report on Thursday, August 6th. Scotia boosted their price objective on shares of iA Financial from C$198.52 to C$223.00 and gave the company a "sector perform" rating in a research note on Thursday, August 6th. Desjardins boosted 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 research note on Thursday, August 6th. TD upped their price objective 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. Finally, National Bank Financial raised their target price on shares of iA Financial from C$205.00 to C$216.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of C$213.61.

iA Financial Trading Up 2.6%

The stock has a fifty day simple moving average of C$205.54 and a two-hundred day simple moving average of C$190.12. The company has a market cap of C$18.58 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 1.26 and a beta of 0.81.

iA Financial (TSE:IAG - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share (EPS) for the quarter. The company had revenue of C$3.05 billion for the quarter. iA Financial had a return on equity of 13.70% and a net margin of 8.29%. As a group, equities research analysts anticipate that iA Financial Co. Inc. will post 11.62 EPS for the current fiscal year.

Insider Buying and Selling at iA Financial

In related news, insider Renée Laflamme sold 12,500 shares of iA Financial stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of C$211.86, for a total value of C$2,648,250.00. Following the sale, the insider directly owned 11,645 shares in the company, valued at C$2,467,109.70. The trade was a 51.77% decrease in their ownership of the stock. 0.09% of the stock is currently owned by company insiders.

About iA Financial

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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