Intact Financial (TSE:IFC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Intact Financial Co. (TSE:IFC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$245.78 and traded as high as C$268.87. Intact Financial shares last traded at C$268.34, with a volume of 299,314 shares changing hands.

Wall Street Analysts Forecast Growth

IFC has been the subject of several research reports. Raymond James upped their target price on shares of Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. CIBC increased their price objective on Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets upped their target price on Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Desjardins lifted their price target on shares of Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, National Bankshares upped their price objective on shares of Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Price Performance

The stock has a market cap of C$48.55 billion, a P/E ratio of 23.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The firm has a 50-day moving average price of C$263.08 and a 200-day moving average price of C$246.36. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36.

Intact Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $1.21 dividend. The ex-dividend date is Monday, December 16th. This represents a $4.84 annualized dividend and a dividend yield of 1.78%. Intact Financial’s payout ratio is 42.61%.

Insider Activity at Intact Financial

In other news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of Intact Financial stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$255.00, for a total value of C$510,000.00. Also, Senior Officer Marie-Lucie Paradis sold 565 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of C$266.23, for a total transaction of C$150,419.95. Insiders sold a total of 4,565 shares of company stock valued at $1,168,179 in the last three months. Company insiders own 0.24% of the company’s stock.

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.