iA Financial (TSE:IAG) Stock Crosses Above 200 Day Moving Average – What’s Next?

Shares of iA Financial Co. Inc. (TSE:IAG) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$182.45 and traded as high as C$214.42. iA Financial shares last traded at C$213.35, with a volume of 304,501 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Desjardins increased their target price on iA Financial from C$205.00 to C$220.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Scotia increased their price objective on iA Financial from C$198.52 to C$223.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. Canadian Imperial Bank of Commerce lifted their target price on iA Financial from C$208.00 to C$220.00 in a report on Thursday, August 6th. Scotiabank boosted their target price on shares of iA Financial from C$168.00 to C$198.52 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Finally, Royal Bank Of Canada raised their price target on shares of iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, iA Financial has a consensus rating of “Hold” and a consensus target price of C$213.61.

iA Financial Trading Down 0.8%

The firm has a market capitalization of C$18.74 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.26 and a beta of 0.79. The stock’s 50-day moving average is C$205.11 and its 200-day moving average is C$182.86.

iA Financial (TSE:IAG) last issued its earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. The firm 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%. On average, equities research analysts anticipate that iA Financial Co. Inc. will post 11.6187564 EPS for the current fiscal year.

Insider Transactions at iA Financial

In other news, 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 transaction of C$136,780.00. Also, insider Renée Laflamme sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of C$192.81, for a total value of C$2,410,125.00. Following the completion of the transaction, the insider directly owned 11,645 shares of the company’s stock, valued at C$2,245,272.45. This represents a 51.77% decrease in their position. In the last ninety days, insiders sold 25,700 shares of company stock valued at $5,195,155. Insiders own 0.09% of the company’s stock.

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