Intact Financial (TSE:IFC) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Intact Financial Co. (TSE:IFC) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$266.93 and traded as high as C$283.79. Intact Financial shares last traded at C$283.66, with a volume of 249,293 shares trading hands.

Analysts Set New Price Targets

IFC has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on shares of Intact Financial from C$290.00 to C$315.00 in a research report on Thursday, February 13th. CIBC upped their price target on Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Jefferies Financial Group increased their price target on shares of Intact Financial from C$284.00 to C$301.00 in a report on Thursday, February 13th. UBS Group increased their target price on shares of Intact Financial from C$275.00 to C$290.00 in a report on Tuesday, February 18th. Finally, Desjardins increased their price objective on Intact Financial from C$295.00 to C$315.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$292.64.

Intact Financial Trading Up 1.1 %

The company has a 50 day simple moving average of C$274.34 and a two-hundred day simple moving average of C$266.93. The firm has a market capitalization of C$50.46 billion, a P/E ratio of 21.96, a P/E/G ratio of 2.01 and a beta of 0.57.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Corporate insiders own 0.24% of the company’s stock.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space.