Intact Financial (TSE:IFC) Cut to Hold at Cibc World Mkts

Cibc World Mkts cut shares of Intact Financial (TSE:IFC) from a strong-buy rating to a hold rating in a report released on Wednesday,Zacks.com reports.

IFC has been the subject of several other research reports. Scotiabank lifted their target price on shares of Intact Financial from C$281.00 to C$283.00 in a report on Thursday, November 7th. TD Securities lifted their target price on shares of Intact Financial from C$293.00 to C$300.00 in a report on Wednesday, November 6th. Raymond James lifted their target price on shares of Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. National Bankshares lifted their target price on shares of Intact Financial from C$294.00 to C$296.00 in a report on Wednesday, November 6th. Finally, BMO Capital Markets boosted their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Intact Financial currently has a consensus rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Trading Up 0.2 %

Shares of TSE:IFC opened at C$258.15 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. Intact Financial has a 12 month low of C$206.57 and a 12 month high of C$275.84. The company’s fifty day simple moving average is C$261.95 and its 200 day simple moving average is C$258.30. The firm has a market cap of C$46.04 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last issued its quarterly earnings results on Tuesday, November 5th. The company reported C$1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.29 by C$0.72. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. During the same period last year, the company posted $2.10 EPS. As a group, research analysts forecast that Intact Financial will post 16.1721014 EPS for the current fiscal year.

Intact Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were issued a dividend of $1.21 per share. The ex-dividend date was Monday, December 16th. This represents a $4.84 annualized dividend and a yield of 1.87%. Intact Financial’s payout ratio is 42.61%.

Insiders Place Their Bets

In other news, Senior Officer Charles Brindamour sold 6,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of C$268.50, for a total value of C$1,611,000.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of C$266.73, for a total transaction of C$120,028.50. Over the last 90 days, insiders have sold 8,865 shares of company stock worth $2,385,573. Insiders own 0.24% of the company’s stock.

Intact Financial Company Profile

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.