Intact Financial (TSE:IFC) Reaches New 12-Month High at $21.51

Intact Financial Co. (TSE:IFC) shares reached a new 52-week high during trading on Wednesday . The company traded as high as C$21.51 and last traded at C$234.52, with a volume of 77812 shares changing hands. The stock had previously closed at C$230.29.

Analyst Ratings Changes

Several brokerages recently weighed in on IFC. Jefferies Financial Group boosted their target price on shares of Intact Financial from C$231.00 to C$242.00 in a research note on Thursday, May 9th. Royal Bank of Canada upped their price objective on shares of Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. TD Securities lifted their target price on shares of Intact Financial from C$250.00 to C$258.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Scotiabank increased their price target on Intact Financial from C$261.00 to C$264.00 in a research note on Thursday, May 9th. Finally, Raymond James lifted their price objective on Intact Financial from C$247.00 to C$261.00 and gave the company an “outperform” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Intact Financial has an average rating of “Moderate Buy” and an average target price of C$247.30.

Intact Financial Stock Up 0.1 %

The stock has a fifty day moving average of C$227.20 and a two-hundred day moving average of C$219.56. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 32.83. The stock has a market cap of C$41.36 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.01 and a beta of 0.53.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, May 7th. The company reported C$3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$3.43 by C$0.20. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. The business had revenue of C$7.06 billion during the quarter, compared to analysts’ expectations of C$8.33 billion. As a group, analysts predict that Intact Financial Co. will post 14.6728435 EPS for the current fiscal year.

Intact Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, June 14th. Intact Financial’s dividend payout ratio is presently 56.21%.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Frédéric Cotnoir sold 2,200 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total transaction of C$501,861.80. In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$229.56, for a total value of C$2,295,607.00. Also, Senior Officer Frédéric Cotnoir sold 2,200 shares of Intact Financial stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total value of C$501,861.80. In the last three months, insiders sold 32,500 shares of company stock valued at $7,377,706. Company insiders own 0.23% of the company’s stock.

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.