Shares of Intact Financial Co. (TSE:IFC – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$22.90 and last traded at C$252.44, with a volume of 75625 shares trading hands. The stock had previously closed at C$251.93.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on IFC. CIBC raised their target price on shares of Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. BMO Capital Markets upped their target price on Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. National Bankshares boosted their price objective on Intact Financial from C$260.00 to C$265.00 and gave the company an “outperform” rating in a report on Monday, July 29th. TD Securities lifted their target price on Intact Financial from C$270.00 to C$282.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Cormark raised their price target on shares of Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intact Financial has a consensus rating of “Moderate Buy” and an average target price of C$264.40.
Read Our Latest Report on Intact Financial
Intact Financial Trading Down 0.7 %
Intact Financial (TSE:IFC – Get Free Report) last issued its earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.61 by C$1.25. The firm had revenue of C$7.07 billion during the quarter, compared to analysts’ expectations of C$7.64 billion. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. As a group, equities research analysts predict that Intact Financial Co. will post 15.6602484 EPS for the current fiscal year.
Intact Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, September 13th. Intact Financial’s payout ratio is 42.64%.
Insider Transactions at Intact Financial
In other news, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. Corporate insiders own 0.24% of the company’s stock.
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.
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