Intact Financial (TSE:IFC) Reaches New 12-Month High Following Analyst Upgrade

Shares of Intact Financial Co. (TSE:IFC) hit a new 52-week high during trading on Tuesday after UBS Group raised their price target on the stock from C$275.00 to C$290.00. The stock traded as high as C$24.74 and last traded at C$289.45, with a volume of 478979 shares. The stock had previously closed at C$288.21.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group raised their price target on shares of Intact Financial from C$284.00 to C$301.00 in a report on Thursday, February 13th. Raymond James boosted their target price on Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Cibc World Mkts cut Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Desjardins boosted their price objective on Intact Financial from C$295.00 to C$315.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, National Bankshares raised their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$292.64.

Insider Transactions at Intact Financial

In other Intact Financial news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$272.50, for a total value of C$504,125.00. Also, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total value of C$1,722,738.00. In the last ninety days, insiders sold 14,300 shares of company stock worth $3,957,892. 0.24% of the stock is currently owned by company insiders.

Intact Financial Stock Performance

The company has a 50-day moving average of C$263.50 and a 200-day moving average of C$261.20. The firm has a market capitalization of C$51.49 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

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.