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

iA Financial Co. Inc. (TSE:IAG)’s stock price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred 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 traded.

Analysts Set New Price Targets

IAG has been the topic of several recent analyst reports. Royal Bank Of Canada increased their price objective on shares of iA Financial from C$167.00 to C$213.00 and gave the stock a “sector perform” rating in a report on Thursday, August 6th. Scotia upped their price target on shares of 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 increased their price target on shares of iA Financial from C$208.00 to C$220.00 in a research note on Thursday, August 6th. BMO Capital Markets boosted their price objective on shares of iA Financial from C$215.00 to C$225.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, TD increased their target price on 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. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$213.61.

iA Financial Trading Down 0.9%

The stock’s 50-day moving average is C$205.89 and its 200-day moving average is C$185.20. The stock has a market cap of C$18.55 billion, a price-to-earnings ratio of 18.06, a P/E/G ratio of 1.26 and a beta of 0.79.

iA Financial (TSE:IAG) last announced its quarterly earnings results on Tuesday, August 4th. The company reported C$3.68 earnings per share for the quarter. iA Financial had a net margin of 8.29% and a return on equity of 13.70%. The firm had revenue of C$3.05 billion for the quarter. On average, equities analysts predict that iA Financial Co. Inc. will post 11.6187564 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Renée Laflamme sold 12,500 shares of iA Financial stock in a transaction on 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 transaction, the insider owned 11,645 shares in the company, valued at approximately C$2,467,109.70. The trade was a 51.77% decrease in their position. Also, insider Alain Bergeron sold 700 shares of the company’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of C$195.40, for a total transaction of C$136,780.00. Company insiders own 0.09% of the company’s stock.

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