Intact Financial (TSE:IFC) Hits New 1-Year High – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$271.86 and last traded at C$267.18, with a volume of 92071 shares traded. The stock had previously closed at C$270.87.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IFC. TD Securities lifted their price target on Intact Financial from C$282.00 to C$293.00 in a research report on Tuesday. CIBC boosted their target price on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Raymond James decreased their price target on shares of Intact Financial from C$269.00 to C$264.00 in a research note on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. Finally, Desjardins upped their price objective on shares of Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Intact Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of C$265.00.

Intact Financial Price Performance

The firm has a 50-day moving average of C$256.89 and a 200 day moving average of C$239.95. The company has a market capitalization of C$47.21 billion, a PE ratio of 23.30, a PEG ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.61 by C$1.25. The company had revenue of C$7.07 billion for the quarter, compared to analysts’ expectations of C$7.64 billion. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. As a group, research analysts anticipate that Intact Financial Co. will post 16.1721014 earnings per share for the current fiscal year.

Intact Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Friday, September 13th. Intact Financial’s dividend payout ratio (DPR) is presently 42.61%.

Insider Activity at Intact Financial

In other Intact Financial news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$255.00, for a total value of C$510,000.00. 0.24% of the stock is currently owned by company insiders.

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.