BMO Capital Markets Issues Positive Forecast for Intact Financial (TSE:IFC) Stock Price

Intact Financial (TSE:IFC) had its target price upped by BMO Capital Markets from C$275.00 to C$290.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

Other equities research analysts have also issued research reports about the company. TD Securities boosted their price objective on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday. National Bankshares lifted their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday. Cormark raised their price target on shares of Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Scotiabank boosted their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday. Finally, Jefferies Financial Group cut their target price on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Price Performance

TSE:IFC traded up C$0.43 during trading hours on Thursday, hitting C$264.40. The company’s stock had a trading volume of 48,553 shares, compared to its average volume of 286,054. The stock has a fifty day simple moving average of C$259.90 and a 200-day simple moving average of C$243.33. Intact Financial has a twelve month low of C$197.82 and a twelve month high of C$273.05. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. The company has a market capitalization of C$47.16 billion, a P/E ratio of 23.24, a PEG ratio of 2.01 and a beta of 0.57.

Intact Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Monday, December 16th. Intact Financial’s dividend payout ratio (DPR) is presently 42.61%.

Insider Buying and Selling at Intact Financial

In related news, Senior Officer Kenneth Anderson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total transaction of C$507,759.00. Company insiders own 0.24% 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.