Intact Financial (TSE:IFC) Reaches New 52-Week High at $23.20

Intact Financial Co. (TSE:IFC) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$23.20 and last traded at C$228.19, with a volume of 86084 shares traded. The stock had previously closed at C$228.87.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IFC shares. Royal Bank of Canada boosted their price target on Intact Financial from C$229.00 to C$236.00 and gave the stock a “sector perform” rating in a research report on Monday, April 29th. BMO Capital Markets upped their price objective on Intact Financial from C$230.00 to C$240.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Scotiabank lifted their price target on Intact Financial from C$256.00 to C$261.00 in a report on Friday, April 26th. TD Securities increased their target price on shares of Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Desjardins boosted their price objective on Intact Financial from C$235.00 to C$238.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$240.11.

Intact Financial Price Performance

The company’s 50-day moving average is C$223.54 and its 200-day moving average is C$212.42. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. The stock has a market cap of C$41.06 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC) last released its quarterly earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$3.44 by C$0.03. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The business had revenue of C$6.53 billion during the quarter. Equities research analysts expect that Intact Financial Co. will post 14.4651774 earnings per share for the current fiscal year.

Intact Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $1.21 dividend. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.10%. Intact Financial’s payout ratio is 69.24%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. Insiders own 0.23% 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.