Intact Financial (TSE:IFC) Sets New 1-Year High – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$271.93 and last traded at C$271.93, with a volume of 26029 shares. The stock had previously closed at C$269.61.

Analysts Set New Price Targets

IFC has been the topic of several research analyst reports. CIBC lifted their price objective on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. National Bankshares boosted their target price on Intact Financial from C$280.00 to C$294.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Raymond James lowered their target price on Intact Financial from C$269.00 to C$264.00 in a report on Thursday, October 10th. Jefferies Financial Group lowered their target price on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Finally, Desjardins boosted their target price on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$267.90.

Intact Financial Trading Up 0.6 %

The stock has a market cap of C$48.39 billion, a PE ratio of 23.85, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The company’s 50-day moving average price is C$259.27 and its 200 day moving average price is C$242.67.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of C$255.00, for a total value of C$510,000.00. 0.24% of the stock is owned by corporate insiders.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.