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

iA Financial Co. Inc. (TSE:IAG)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$123.32 and traded as high as C$123.87. iA Financial shares last traded at C$123.85, with a volume of 253,926 shares trading hands.

Analyst Ratings Changes

A number of analysts recently issued reports on IAG shares. CIBC increased their target price on iA Financial from C$144.00 to C$149.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Royal Bank of Canada upped their price target on shares of iA Financial from C$137.00 to C$141.00 and gave the company a “sector perform” rating in a report on Thursday, February 20th. Scotiabank cut shares of iA Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. BMO Capital Markets increased their target price on iA Financial from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Finally, TD Securities upped their price objective on iA Financial from C$146.00 to C$147.00 and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, iA Financial presently has a consensus rating of “Moderate Buy” and an average price target of C$140.75.

iA Financial Price Performance

The firm has a 50-day moving average of C$130.96 and a 200 day moving average of C$123.32. The stock has a market capitalization of C$11.62 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.26 and a beta of 1.13.

iA Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.91%. iA Financial’s payout ratio is presently 31.25%.

Insider Buying and Selling

In related news, Senior Officer Alain Bergeron sold 510 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of C$133.58, for a total value of C$68,125.80. Over the last three months, insiders have sold 10,510 shares of company stock worth $1,414,864. 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.