Intact Financial (TSE:IFC) Sets New 12-Month High After Analyst Upgrade

Intact Financial Co. (TSE:IFC)’s share price reached a new 52-week high during trading on Wednesday after Desjardins raised their price target on the stock from C$295.00 to C$315.00. Desjardins currently has a buy rating on the stock. Intact Financial traded as high as C$287.82 and last traded at C$284.00, with a volume of 13646 shares traded. The stock had previously closed at C$276.23.

Several other analysts have also recently commented on IFC. CIBC lifted their price target on Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a report on Thursday. Raymond James raised their target price on shares of Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a research report on Thursday. TD Securities upped their price target on shares of Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research report on Wednesday. Jefferies Financial Group upped their price objective on Intact Financial from C$284.00 to C$301.00 in a report on Thursday. Finally, Cibc World Mkts downgraded Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$292.90.

Insider Buying and Selling at Intact Financial

In other 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 value of C$120,028.50. Also, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Insiders have sold 14,300 shares of company stock worth $3,957,892 in the last ninety days. 0.24% of the stock is owned by insiders.

Intact Financial Stock Down 1.1 %

The firm has a market cap of C$51.07 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The stock’s 50 day moving average is C$262.47 and its 200 day moving average is C$260.27.

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.