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

Key Points

• iA Financial shares rose above their 200-day moving average, reaching C$199.16 and closing at C$199.12, compared with the long-term average of C$177.92.
• Analysts remain broadly neutral, with one Buy rating and eight Holds. The average price target increased to C$213.61, with targets ranging from C$216 to C$225 among recent updates.
• The company reported quarterly earnings of C$3.68 per share on C$3.05 billion in revenue, while insiders sold 42,000 shares worth approximately C$8.06 million over the past 90 days.

iA Financial Co. Inc. (TSE:IAG - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$177.92 and traded as high as C$199.16. iA Financial shares last traded at C$199.12, with a volume of 387,382 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently commented on IAG shares. Desjardins raised their price target on shares of 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 Securities lowered shares of iA Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 6th. TD increased their target price 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. 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 report on Wednesday, August 5th. Finally, BMO Capital Markets lifted their price target 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. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$213.61.

iA Financial Price Performance

The firm's 50-day simple moving average is C$202.35 and its 200 day simple moving average is C$177.92. The firm has a market capitalization of C$17.60 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 1.26 and a beta of 0.92.

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

Insider Buying and Selling

In other iA Financial news, insider Renée Laflamme sold 12,500 shares of iA Financial stock in a transaction dated 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 transaction, 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 business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of C$195.40, for a total value of C$136,780.00. Insiders sold a total of 42,000 shares of company stock worth $8,064,615 in the last ninety days. 0.09% of the stock is owned by 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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