Intact Financial Co. (IFC) Given Average Recommendation of “Hold” by Brokerages
Intact Financial Co. (TSE:IFC) has received an average rating of “Hold” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$109.20.
IFC has been the topic of several recent analyst reports. Barclays upped their price target on Intact Financial from C$100.00 to C$109.00 in a research report on Friday, October 20th. TD Securities raised Intact Financial from a “hold” rating to a “buy” rating and upped their target price for the stock from C$115.00 to C$120.00 in a research report on Thursday, November 16th. CIBC lowered Intact Financial from an “outperform” rating to a “neutral” rating and upped their target price for the stock from C$106.00 to C$113.00 in a research report on Friday, October 27th. Raymond James Financial raised Intact Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from C$104.00 to C$110.00 in a research report on Thursday, October 19th. Finally, Scotiabank upped their target price on Intact Financial from C$105.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 31st.
Intact Financial (IFC) traded down C$0.72 during trading hours on Friday, reaching C$106.14. The company had a trading volume of 251,829 shares, compared to its average volume of 227,464. Intact Financial has a 52-week low of C$91.40 and a 52-week high of C$109.33.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.56 annualized dividend and a dividend yield of 2.41%. Intact Financial’s dividend payout ratio (DPR) is presently 46.13%.
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About Intact Financial
Intact Financial Corporation is a holding company, which provides property and casualty (P&C) insurance. The Company operates through P&C insurance operations segment. It offers a range of car, home and business insurance products, including personal auto, personal property, commercial P&C and commercial auto.
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