Intact Financial (OTCMKTS:IFCZF) Shares Gap Up – Here’s Why

Intact Financial Co. (OTCMKTS:IFCZF) shares gapped up before the market opened on Wednesday . The stock had previously closed at $205.66, but opened at $216.8675. Intact Financial shares last traded at $216.8675, with a volume of 1 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. TD Securities reissued a “buy” rating on shares of Intact Financial in a research report on Wednesday, May 6th. Barclays reiterated an “overweight” rating on shares of Intact Financial in a research report on Wednesday, May 6th. Five analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

Intact Financial Stock Performance

The company has a market cap of $35.95 billion and a price-to-earnings ratio of 14.98. The business has a fifty day moving average price of $194.83 and a 200 day moving average price of $192.79.

Intact Financial (OTCMKTS:IFCZF) last released its quarterly earnings data on Tuesday, May 5th. The company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.24. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.28 billion. Intact Financial had a return on equity of 19.25% and a net margin of 12.02%.

About Intact Financial

Intact Financial Corporation is a leading Canadian property and casualty insurance provider offering a broad range of personal and commercial insurance products and services. Its primary operations in Canada are conducted through Intact Insurance and belairdirect, while its specialty insurance business in the United States operates under the OneBeacon Insurance Group brand. The company’s portfolio includes coverage for auto, home, commercial property and casualty, specialty lines, and accident and health, supported by risk management and claims solutions tailored to individuals, small and medium-sized enterprises, and large corporate clients.

Tracing its origins to the Halifax Fire Insurance Association founded in 1809, Intact Financial has expanded through a series of strategic mergers and acquisitions.