Intact Financial (TSE:IFC) Cut to “Hold” at Cibc World Mkts

Intact Financial (TSE:IFC) was downgraded by equities research analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other analysts have also recently commented on IFC. National Bankshares raised their price objective on shares of Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. TD Securities lifted their price objective on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price target on Intact Financial from C$275.00 to C$290.00 in a report on Thursday, November 7th. Scotiabank upped their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. Finally, Raymond James raised their price target on shares of Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Trading Up 1.0 %

TSE IFC opened at C$257.74 on Wednesday. The firm has a market cap of C$45.97 billion, a PE ratio of 22.69, a P/E/G ratio of 2.01 and a beta of 0.57. Intact Financial has a one year low of C$206.57 and a one year high of C$275.84. The firm’s fifty day moving average is C$262.24 and its two-hundred day moving average is C$258.15. 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 (TSE:IFC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.29 by C$0.72. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. During the same period in the previous year, the company posted $2.10 EPS. Analysts expect that Intact Financial will post 16.1721014 earnings per share for the current year.

Insider Activity at Intact Financial

In related news, Senior Officer Frédéric Cotnoir sold 450 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total transaction of C$120,028.50. Also, Senior Officer Charles Brindamour sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of C$268.50, for a total value of C$1,611,000.00. Insiders sold a total of 8,865 shares of company stock valued at $2,385,573 in the last quarter. 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.