Intact Financial Co. Announces Quarterly Dividend of $1.21 (TSE:IFC)

Intact Financial Co. (TSE:IFC) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Shareholders of record on Friday, September 13th will be given a dividend of 1.21 per share on Friday, September 27th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, September 13th.

Intact Financial Stock Performance

TSE IFC opened at C$250.90 on Thursday. The firm’s fifty day moving average price is C$231.56 and its two-hundred day moving average price is C$224.65. The stock has a market cap of C$44.74 billion, a PE ratio of 29.14, a PEG ratio of 2.01 and a beta of 0.53. Intact Financial has a fifty-two week low of C$188.22 and a fifty-two week high of C$263.74. The company has a debt-to-equity ratio of 32.83, a quick ratio of 0.28 and a current ratio of 0.35.

Intact Financial (TSE:IFC) last issued its quarterly earnings data on Tuesday, May 7th. The company reported C$3.63 earnings per share for the quarter, topping 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 analysts’ expectations of C$8.33 billion. Intact Financial had a net margin of 5.55% and a return on equity of 10.00%. On average, equities analysts expect that Intact Financial will post 14.6728435 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$223.08, for a total value of C$2,230,768.00. In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$223.08, for a total value of C$2,230,768.00. Also, Senior Officer Frédéric Cotnoir sold 2,200 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total transaction of C$501,861.80. Insiders have sold 32,500 shares of company stock worth $7,377,706 in the last quarter. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Cormark boosted their target price on shares of Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a report on Thursday. National Bankshares boosted their target price on shares of Intact Financial from C$260.00 to C$265.00 and gave the company an “outperform” rating in a report on Monday. Scotiabank boosted their target price on shares of Intact Financial from C$264.00 to C$272.00 in a report on Wednesday, July 24th. BMO Capital Markets boosted their target price on shares of Intact Financial from C$240.00 to C$250.00 in a report on Thursday, May 9th. Finally, Royal Bank of Canada boosted their target price on shares of Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$254.00.

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.