Intact Financial (TSE:IFC) Reaches New 52-Week High at $239.72

Intact Financial Co. (TSE:IFC)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$239.72 and last traded at C$239.50, with a volume of 22519 shares changing hands. The stock had previously closed at C$237.67.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Desjardins raised their price target on Intact Financial from C$235.00 to C$238.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Raymond James boosted their price target on shares of Intact Financial from C$247.00 to C$261.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Jefferies Financial Group increased their price objective on shares of Intact Financial from C$231.00 to C$242.00 in a research report on Thursday, May 9th. Scotiabank boosted their target price on shares of Intact Financial from C$261.00 to C$264.00 in a report on Thursday, May 9th. Finally, Royal Bank of Canada increased their price target on shares of Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$247.30.

Intact Financial Stock Up 0.7 %

The company has a 50-day moving average of C$228.06 and a 200-day moving average of C$221.25. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 32.83. The company has a market capitalization of C$42.66 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, May 7th. The company reported C$3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.43 by C$0.20. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. The firm had revenue of C$7.06 billion for the quarter, compared to the consensus estimate of C$8.33 billion. On average, equities analysts predict that Intact Financial Co. will post 14.6728435 earnings per share for the current fiscal year.

Intact Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $1.21 per share. The ex-dividend date was Friday, June 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.02%. Intact Financial’s dividend payout ratio (DPR) is presently 56.21%.

Insiders Place Their Bets

In other Intact Financial news, Senior Officer Frédéric Cotnoir sold 2,200 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total value of C$501,861.80. In related news, Senior Officer Louis Gagnon sold 10,000 shares of Intact Financial stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of C$229.56, for a total value of C$2,295,607.00. Also, Senior Officer Frédéric Cotnoir sold 2,200 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total value of C$501,861.80. In the last three months, insiders have sold 32,500 shares of company stock valued at $7,377,706. Company insiders own 0.23% of the company’s stock.

Intact Financial Company Profile

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.