Intact Financial (TSE:IFC) Reaches New 52-Week High at $23.25

Shares of Intact Financial Co. (TSE:IFC) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$23.25 and last traded at C$255.24, with a volume of 35393 shares changing hands. The stock had previously closed at C$254.09.

Wall Street Analyst Weigh In

IFC has been the subject of several analyst reports. CIBC increased their price objective on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Raymond James raised their price objective on Intact Financial from C$261.00 to C$269.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. TD Securities upped their target price on shares of Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Scotiabank lifted their price target on shares of Intact Financial from C$264.00 to C$272.00 in a research report on Wednesday, July 24th. Finally, Cormark upped their price objective on shares of Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Intact Financial has a consensus rating of “Moderate Buy” and a consensus target price of C$265.50.

Intact Financial Trading Up 0.7 %

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 firm has a market capitalization of C$45.64 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.01 and a beta of 0.57. The company has a 50-day moving average price of C$237.02 and a 200-day moving average price of C$228.56.

Intact Financial (TSE:IFC) last posted its earnings results on Tuesday, July 30th. The company reported C$4.86 EPS for the quarter, beating analysts’ consensus estimates of C$3.61 by C$1.25. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. The firm had revenue of C$7.07 billion for the quarter, compared to the consensus estimate of C$7.64 billion. As a group, research analysts forecast that Intact Financial Co. will post 15.4382979 EPS for the current fiscal year.

Intact Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Friday, September 13th. Intact Financial’s payout ratio is currently 42.64%.

Insider Buying and Selling

In other news, Senior Officer Louis Gagnon sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total value of C$2,230,768.00. In other news, Senior Officer Frédéric Cotnoir sold 2,200 shares of Intact Financial stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of C$228.12, for a total value of C$501,861.80. Also, Senior Officer Louis Gagnon sold 10,000 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. Insiders have sold 32,200 shares of company stock worth $7,309,123 in the last quarter. 0.24% of the stock is owned by 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.