Intact Financial (TSE:IFC) Reaches New 12-Month High Following Analyst Upgrade

Intact Financial Co. (TSE:IFC)’s share price hit a new 52-week high during mid-day trading on Friday after Scotiabank raised their price target on the stock from C$256.00 to C$261.00. The company traded as high as C$23.00 and last traded at C$223.84, with a volume of 103737 shares. The stock had previously closed at C$221.06.

Several other brokerages also recently issued reports on IFC. Royal Bank of Canada raised their price objective on shares of Intact Financial from C$228.00 to C$229.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 14th. Desjardins boosted their price objective on shares of Intact Financial from C$235.00 to C$238.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. National Bankshares lowered their target price on shares of Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. BMO Capital Markets boosted their price target on Intact Financial from C$230.00 to C$240.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Finally, CIBC raised their price objective on Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$237.20.

Insider Buying and Selling

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total value of C$1,583,589.00. 0.23% of the stock is owned by corporate insiders.

Intact Financial Stock Up 1.5 %

The firm has a market cap of C$40.00 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.01 and a beta of 0.54. The firm has a 50 day moving average of C$223.69 and a 200 day moving average of C$211.46. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90.

Intact Financial (TSE:IFC) last posted its quarterly earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, beating the consensus estimate of C$3.44 by C$0.03. The firm had revenue of C$6.53 billion during the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. As a group, sell-side analysts predict that Intact Financial Co. will post 14.4651774 earnings per share for the current year.

Intact Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $1.21 dividend. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 14th. Intact Financial’s dividend payout ratio (DPR) is currently 69.24%.

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.