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

Shares of iA Financial Co. Inc. (TSE:IAG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$113.93 and traded as high as C$133.65. iA Financial shares last traded at C$132.90, with a volume of 160,584 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IAG. National Bank Financial cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. TD Securities raised their price objective on iA Financial from C$132.00 to C$135.00 in a research report on Wednesday, November 6th. CIBC boosted their target price on iA Financial from C$133.00 to C$143.00 in a research report on Wednesday, November 13th. BMO Capital Markets raised their price target on iA Financial from C$126.00 to C$140.00 in a report on Thursday, November 7th. Finally, Royal Bank of Canada cut iA Financial from an “outperform” rating to a “sector perform” rating and upped their price objective for the stock from C$105.00 to C$137.00 in a report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$129.75.

iA Financial Trading Up 0.9 %

The stock has a fifty day moving average price of C$132.51 and a 200 day moving average price of C$113.93. The stock has a market cap of C$12.64 billion, a PE ratio of 17.79, a PEG ratio of 1.26 and a beta of 1.13. The company has a debt-to-equity ratio of 46.39, a quick ratio of 0.17 and a current ratio of 2.22.

iA Financial (TSE:IAG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$2.93 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.63 by C$0.30. iA Financial had a net margin of 9.02% and a return on equity of 10.51%. Equities analysts expect that iA Financial Co. Inc. will post 11.6187564 EPS for the current year.

iA Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 22nd were paid a $0.90 dividend. The ex-dividend date was Friday, November 22nd. This represents a $3.60 annualized dividend and a yield of 2.71%. This is an increase from iA Financial’s previous quarterly dividend of $0.82. iA Financial’s dividend payout ratio (DPR) is presently 43.91%.

Insider Buying and Selling at iA Financial

In related news, Senior Officer Alain Bergeron sold 2,750 shares of the firm’s stock in a transaction dated Thursday, November 28th. The shares were sold at an average price of C$134.00, for a total value of C$368,500.00. Following the transaction, the insider now owns 500 shares of the company’s stock, valued at C$67,000. This trade represents a 84.62 % decrease in their position. Also, Senior Officer Pierre Miron sold 15,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$129.23, for a total transaction of C$1,938,415.50. Insiders sold 58,010 shares of company stock worth $7,675,070 over the last 90 days. Company insiders own 0.09% of the company’s stock.

iA Financial Company Profile

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.