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

Key Points

• iA Financial shares broke above their 200-day moving average, reaching C$212.45 and closing their latest trade at C$211.68, versus a 200-day average of C$185.03.
• Analysts have raised their price targets, but sentiment remains cautious: the average target is C$213.61, with one Buy rating and eight Hold ratings.
• The company reported quarterly EPS of C$3.68 on C$3.05 billion in revenue. Insider selling included a 12,500-share sale by Renée Laflamme at an average price of C$211.86.

iA Financial Co. Inc. (TSE:IAG - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$185.03 and traded as high as C$212.45. iA Financial shares last traded at C$211.68, with a volume of 187,545 shares trading hands.

Analysts Set New Price Targets

IAG has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on iA Financial from C$215.00 to C$225.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. TD boosted their price target on iA Financial from C$214.00 to C$218.00 and gave the company a "hold" rating in a research note on Wednesday, August 5th. Canadian Imperial Bank of Commerce increased their price target on iA Financial from C$208.00 to C$220.00 in a report on Thursday, August 6th. Scotiabank raised their price objective on shares of iA Financial from C$168.00 to C$198.52 and gave the stock a "sector perform" rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada lifted their price objective on shares of iA Financial from C$167.00 to C$213.00 and gave the company a "sector perform" rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$213.61.

iA Financial Price Performance

The stock has a market cap of C$18.71 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 1.26 and a beta of 0.79. The firm's fifty day moving average price is C$205.86 and its two-hundred day moving average price is C$185.03.

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

Insider Activity at iA Financial

In other news, insider Renée Laflamme sold 12,500 shares of the business's 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 transaction of C$2,648,250.00. Following the completion of the sale, the insider 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. Also, insider Alain Bergeron sold 700 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of C$195.40, for a total value of C$136,780.00. 0.09% of the stock is currently owned by corporate 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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.