Intact Financial (TSE:IFC) Reaches New 1-Year High at $21.51

Shares of Intact Financial Co. (TSE:IFC) reached a new 52-week high on Wednesday . The company traded as high as C$21.51 and last traded at C$234.52, with a volume of 77812 shares changing hands. The stock had previously closed at C$230.29.

Analysts Set New Price Targets

IFC has been the subject of a number of recent analyst reports. Raymond James lifted their target price on Intact Financial from C$247.00 to C$261.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Royal Bank of Canada lifted their target price on Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. TD Securities boosted their price objective on Intact Financial from C$250.00 to C$258.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. National Bankshares boosted their price objective on Intact Financial from C$247.00 to C$260.00 in a report on Thursday, May 9th. Finally, BMO Capital Markets boosted their price objective on Intact Financial from C$240.00 to C$250.00 in a report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$247.30.

Intact Financial Stock Up 1.6 %

The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 32.83. The company has a 50-day simple moving average of C$226.75 and a two-hundred day simple moving average of C$219.38. The stock has a market cap of C$41.73 billion, a P/E ratio of 27.32, a P/E/G ratio of 2.01 and a beta of 0.53.

Intact Financial (TSE:IFC) last announced its earnings results on Tuesday, May 7th. The company reported C$3.63 EPS for the quarter, beating analysts’ consensus estimates of C$3.43 by C$0.20. The company had revenue of C$7.06 billion during the quarter, compared to the consensus estimate of C$8.33 billion. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. On average, equities analysts forecast that Intact Financial Co. will post 14.6728435 EPS for the current year.

Intact Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.21 per share. The ex-dividend date was Friday, June 14th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.07%. Intact Financial’s dividend payout ratio is presently 56.21%.

Insider Buying and Selling

In related news, Senior Officer Frédéric Cotnoir sold 2,200 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total value of C$501,861.80. In other news, Senior Officer Louis Gagnon sold 10,000 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$229.56, for a total value of C$2,295,607.00. Also, Senior Officer Frédéric Cotnoir sold 2,200 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total value of C$501,861.80. Insiders have sold a total of 32,500 shares of company stock valued at $7,377,706 over the last ninety days. Company 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.