Intact Financial (TSE:IFC) Reaches New 52-Week High at $23.20

Intact Financial Co. (TSE:IFC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$23.20 and last traded at C$228.19, with a volume of 86084 shares changing hands. The stock had previously closed at C$228.87.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IFC shares. Desjardins increased their price target on Intact Financial from C$235.00 to C$238.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. CIBC increased their price objective on Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. National Bankshares increased their price objective on Intact Financial from C$245.00 to C$247.00 and gave the company an “outperform” rating in a research report on Tuesday. BMO Capital Markets increased their price objective on Intact Financial from C$230.00 to C$240.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, Raymond James increased their price objective on Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Intact Financial currently has an average rating of “Moderate Buy” and a consensus target price of C$240.11.

Intact Financial Price Performance

The stock has a fifty day moving average price of C$223.59 and a 200-day moving average price of C$212.30. The company has a market cap of C$40.73 billion, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.44 by C$0.03. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The business had revenue of C$6.53 billion during the quarter. On average, equities analysts expect that Intact Financial Co. will post 14.4651774 earnings per share for the current year.

Intact Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a yield of 2.12%. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. Intact Financial’s dividend payout ratio is presently 69.24%.

Insiders Place Their Bets

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total value of C$1,583,589.00. Company insiders own 0.23% of the company’s stock.

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.