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

Intact Financial Co. (TSE:IFC)’s stock price reached a new 52-week high during 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 trading hands. The stock had previously closed at C$228.87.

Analysts Set New Price Targets

Several equities research analysts have commented on IFC shares. Royal Bank of Canada increased their price objective on shares of Intact Financial from C$229.00 to C$236.00 and gave the company a “sector perform” rating in a research note on Monday. National Bankshares increased their target price on shares of Intact Financial from C$245.00 to C$247.00 and gave the company an “outperform” rating in a research report on Tuesday. Raymond James increased their target price on shares of Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. 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, CIBC raised their price objective on shares of Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$240.11.

Intact Financial Stock Down 0.2 %

The company has a debt-to-equity ratio of 34.90, a quick ratio of 0.28 and a current ratio of 0.38. The firm has a market capitalization of C$40.73 billion, a PE ratio of 32.74, a PEG ratio of 2.01 and a beta of 0.54. The company’s 50 day simple moving average is C$223.59 and its 200-day simple moving average is C$212.30.

Intact Financial (TSE:IFC) last posted its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.44 by C$0.03. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. The business had revenue of C$6.53 billion for the quarter. On average, analysts forecast that Intact Financial Co. will post 14.4651774 EPS for the current fiscal year.

Intact Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.21 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.12%. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s dividend payout ratio (DPR) is 69.24%.

Insider Activity

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. Corporate insiders own 0.23% 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.