Intact Financial (TSE:IFC) Hits New 12-Month High – Should You Buy?

Intact Financial Co. (TSE:IFC) reached a new 52-week high during trading on Tuesday . The company traded as high as C$266.98 and last traded at C$266.08, with a volume of 6544 shares trading hands. The stock had previously closed at C$264.00.

Wall Street Analysts Forecast Growth

IFC has been the topic of several research analyst reports. Desjardins raised their target price on shares of Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. TD Securities boosted their price objective on shares of Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Scotiabank dropped their price objective on Intact Financial from C$272.00 to C$263.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Cormark lifted their target price on Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, CIBC upped their price target on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of C$263.90.

Intact Financial Stock Performance

The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. The stock has a 50 day simple moving average of C$254.07 and a 200 day simple moving average of C$237.59. The company has a market capitalization of C$47.46 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$4.86 earnings per share for the quarter, beating the consensus estimate 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, analysts anticipate that Intact Financial Co. will post 15.774665 earnings per share for the current fiscal year.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $1.21 per share. The ex-dividend date was Friday, September 13th. This represents a $4.84 annualized dividend and a yield of 1.82%. Intact Financial’s payout ratio is 42.64%.

Insider Transactions at Intact Financial

In other news, Senior Officer Kenneth Anderson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total transaction of C$507,759.00. Company insiders own 0.24% 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.