Intact Financial (TSE:IFC) Reaches New 1-Year High at $21.51

Intact Financial Co. (TSE:IFC) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$21.51 and last traded at C$234.52, with a volume of 77812 shares changing hands. The stock had previously closed at C$230.29.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IFC shares. Desjardins increased their price objective on Intact Financial from C$235.00 to C$238.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Jefferies Financial Group boosted their price objective on shares of Intact Financial from C$231.00 to C$242.00 in a report on Thursday, May 9th. National Bankshares increased their target price on shares of Intact Financial from C$247.00 to C$260.00 in a research note on Thursday, May 9th. Royal Bank of Canada boosted their price target on Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 8th. Finally, Scotiabank raised their price objective on Intact Financial from C$261.00 to C$264.00 in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$247.30.

Intact Financial Trading Up 0.1 %

The company has a 50 day moving average of C$227.20 and a 200 day moving average of C$219.56. The firm has a market cap of C$41.36 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 32.83.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, May 7th. The company reported C$3.63 EPS for the quarter, beating the consensus estimate of C$3.43 by C$0.20. The company had revenue of C$7.06 billion for the quarter, compared to the consensus estimate of C$8.33 billion. Intact Financial had a net margin of 5.55% and a return on equity of 10.00%. As a group, research analysts anticipate that Intact Financial Co. will post 14.6728435 EPS for the current year.

Intact Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Friday, June 14th. Intact Financial’s payout ratio is 56.21%.

Insider Transactions at Intact Financial

In related news, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. In other news, Senior Officer Louis Marcotte sold 300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of C$228.61, for a total transaction of C$68,583.00. Also, Senior Officer Louis Gagnon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. Insiders have sold 32,500 shares of company stock valued at $7,377,706 in the last three months. 0.23% of the stock is owned by corporate 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.