Intact Financial (TSE:IFC) Sets New 12-Month High at $23.76

Intact Financial Co. (TSE:IFC) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$23.76 and last traded at C$254.31, with a volume of 86307 shares trading hands. The stock had previously closed at C$256.27.

Analyst Ratings Changes

IFC has been the subject of several research reports. TD Securities lifted 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 report on Wednesday, July 31st. Jefferies Financial Group lowered their price target on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. BMO Capital Markets increased their price objective on shares of Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. CIBC lifted their target price on Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Cormark increased their price target on Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of C$264.40.

Intact Financial Stock Down 0.8 %

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 firm has a 50 day simple moving average of C$249.17 and a 200-day simple moving average of C$233.88. The stock has a market cap of C$45.36 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.61 by C$1.25. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. The business had revenue of C$7.07 billion during the quarter, compared to the consensus estimate of C$7.64 billion. On average, equities research analysts forecast that Intact Financial Co. will post 16.0043887 earnings per share for the current fiscal year.

Intact Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Friday, September 13th. Intact Financial’s payout ratio is 42.61%.

Insider Activity at Intact Financial

In related news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of Intact Financial 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 transaction of C$510,000.00. 0.24% of the stock is owned by company 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.