Intact Financial (TSE:IFC) Given New C$270.00 Price Target at CIBC

Intact Financial (TSE:IFC) had its target price hoisted by CIBC from C$250.00 to C$270.00 in a research report sent to investors on Thursday, BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently issued reports on IFC. Raymond James boosted their target price on Intact Financial from C$261.00 to C$269.00 and gave the stock an outperform rating in a report on Wednesday, July 31st. Desjardins increased 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 research report on Tuesday, July 23rd. TD Securities lifted their target price on shares of Intact Financial from C$270.00 to C$282.00 and gave the company a buy rating in a report on Wednesday, July 31st. Jefferies Financial Group upped their price target on shares of Intact Financial from C$241.00 to C$264.00 in a research report on Thursday. Finally, Cormark boosted their price objective on Intact Financial from C$250.00 to C$260.00 and gave the stock a buy rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of C$260.18.

Intact Financial Stock Performance

TSE:IFC opened at C$246.76 on Thursday. Intact Financial has a fifty-two week low of C$188.22 and a fifty-two week high of C$263.74. The firm’s 50 day moving average is C$232.27 and its two-hundred day moving average is C$225.41. The company has a market cap of C$44.00 billion, a P/E ratio of 28.66, a P/E/G ratio of 2.01 and a beta of 0.53. The company has a quick ratio of 0.28, a current ratio of 0.35 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 earnings per share for the quarter, topping the consensus estimate of C$3.43 by C$0.20. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. The business had revenue of C$7.06 billion for the quarter, compared to analyst estimates of C$8.33 billion. Analysts expect that Intact Financial will post 14.6728435 EPS for the current year.

Intact Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, September 13th. Intact Financial’s dividend payout ratio (DPR) is 56.21%.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Louis Marcotte sold 300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total value of C$68,583.00. In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of C$229.56, for a total transaction of C$2,295,607.00. Also, Senior Officer Louis Marcotte sold 300 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of C$228.61, for a total transaction of C$68,583.00. Insiders sold a total of 32,500 shares of company stock worth $7,377,706 in the last 90 days. 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.