Intact Financial (TSE:IFC) Reaches New 52-Week High on Analyst Upgrade

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

A number of other research analysts also recently issued reports on the company. National Bankshares cut their price objective on Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. TD Securities upped their price target on shares of Intact Financial from C$225.00 to C$235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Desjardins raised 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 research report on Tuesday, April 16th. Raymond James upped their target price on shares of Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. Finally, CIBC raised their price target on Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$237.20.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction dated 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. Company insiders own 0.23% of the company’s stock.

Intact Financial Trading Up 1.5 %

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

Intact Financial (TSE:IFC) last released its 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 for the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. 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. Stockholders of record on Friday, March 15th were paid a $1.21 dividend. The ex-dividend date was Thursday, March 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.16%. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s dividend payout ratio 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.