Desjardins Boosts Intact Financial Co. (TSE:IFC) Price Target to C$98.00
Intact Financial Co. (TSE:IFC) had its price target boosted by Desjardins from C$96.00 to C$98.00 in a research report sent to investors on Wednesday. Desjardins also issued estimates for Intact Financial’s Q4 2017 earnings at $1.80 EPS and FY2017 earnings at $5.89 EPS.
A number of other analysts have also commented on the company. TD Securities reaffirmed a hold rating and issued a C$97.00 price target on shares of Intact Financial in a research note on Tuesday, July 4th. Scotiabank reaffirmed an outperform rating and issued a C$105.00 price target on shares of Intact Financial in a research note on Tuesday, July 4th. Raymond James Financial, Inc. dropped their price target on Intact Financial from C$102.00 to C$98.00 and set a market perform rating for the company in a research note on Monday, May 15th. Barclays PLC reaffirmed an overweight rating and issued a C$100.00 price target on shares of Intact Financial in a research note on Thursday, May 11th. Finally, BMO Capital Markets reaffirmed an outperform rating and issued a C$104.00 price target on shares of Intact Financial in a research note on Thursday, April 6th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Intact Financial currently has an average rating of Hold and a consensus price target of C$102.20.
Intact Financial (TSE IFC) opened at 98.74 on Wednesday. Intact Financial has a 52-week low of $90.00 and a 52-week high of $98.81. The firm has a market cap of $12.93 billion and a P/E ratio of 19.42. The company’s 50 day moving average is $96.06 and its 200-day moving average is $94.71.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.64 per share. The ex-dividend date is Thursday, September 14th. This represents a $2.56 annualized dividend and a yield of 2.59%. This is a positive change from Intact Financial’s previous quarterly dividend of $0.53.
In other news, insider Lucie Martel acquired 3,215 shares of the stock in a transaction on Friday, May 26th. The stock was acquired at an average price of C$93.42 per share, with a total value of C$300,345.30.
About Intact Financial
Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada. It primarily underwrites automobile, home, and commercial property and casualty insurance contracts. The company distributes its services through a network of independent insurance brokers, as well as sells directly to consumers through call centers and the Internet.
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