iA Financial (TSE:IAG) Shares Pass Above 200-Day Moving Average – Here’s Why

iA Financial Co. Inc. (TSE:IAG)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$118.61 and traded as high as C$130.75. iA Financial shares last traded at C$128.82, with a volume of 198,784 shares changing hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on IAG shares. Royal Bank of Canada downgraded iA Financial from an “outperform” rating to a “sector perform” rating and increased their target price for the stock from C$105.00 to C$137.00 in a research report on Thursday, November 7th. CIBC increased their price objective on shares of iA Financial from C$143.00 to C$144.00 in a report on Thursday, January 30th. BMO Capital Markets boosted their target price on shares of iA Financial from C$126.00 to C$140.00 in a report on Thursday, November 7th. Scotiabank downgraded shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, National Bankshares boosted their price objective on shares of iA Financial from C$118.00 to C$121.00 in a research note on Wednesday, November 6th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$129.88.

iA Financial Price Performance

The business’s 50-day simple moving average is C$132.19 and its two-hundred day simple moving average is C$118.61. The stock has a market capitalization of C$12.09 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.26 and a beta of 1.13.

Insider Activity

In other news, Director Denis Ricard sold 5,000 shares of iA Financial stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of C$137.00, for a total transaction of C$685,000.00. Also, Senior Officer Alain Bergeron sold 510 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of C$133.58, for a total transaction of C$68,125.80. In the last 90 days, insiders have sold 22,010 shares of company stock valued at $2,976,055. Company insiders own 0.09% of the company’s stock.

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.