iA Financial (TSE:IAG) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

iA Financial Co. Inc. (TSE:IAG) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$132.96 and traded as high as C$143.98. iA Financial shares last traded at C$143.75, with a volume of 230,193 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on IAG. TD Securities lifted their price target on iA Financial from C$140.00 to C$147.00 and gave the company a “buy” rating in a report on Thursday, May 8th. BMO Capital Markets upped their target price on iA Financial from C$140.00 to C$150.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. CIBC decreased their price target on shares of iA Financial from C$149.00 to C$144.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. Royal Bank of Canada set a C$141.00 price objective on shares of iA Financial and gave the company a “sector perform” rating in a research note on Tuesday, April 15th. Finally, Scotiabank cut their target price on shares of iA Financial from C$143.00 to C$140.00 and set a “sector perform” rating for the company in a research report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$139.75.

iA Financial Trading Up 1.0%

The company has a 50-day moving average price of C$135.44 and a two-hundred day moving average price of C$132.96. The stock has a market capitalization of C$13.49 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13.

Insider Buying and Selling

In other news, Senior Officer Pierre Miron sold 15,000 shares of iA Financial stock in a transaction on Monday, May 26th. The stock was sold at an average price of C$140.29, for a total value of C$2,104,389.00. Also, Director Denis Ricard sold 6,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of C$139.50, for a total transaction of C$864,900.00. Over the last ninety days, insiders have sold 49,500 shares of company stock worth $6,903,067. 0.09% of the stock is owned by insiders.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.