Intact Financial (TSE:IFC) Hits New 52-Week High at $23.83

Intact Financial Co. (TSE:IFC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$23.83 and last traded at C$253.37, with a volume of 73433 shares. The stock had previously closed at C$253.11.

Wall Street Analysts Forecast Growth

IFC has been the subject of a number of research reports. BMO Capital Markets raised their price objective on Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. TD Securities boosted their price target on shares of Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. CIBC raised their price objective on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Jefferies Financial Group reduced their price objective on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Finally, Raymond James upped their target price on shares of Intact Financial from C$261.00 to C$269.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Intact Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$264.40.

Intact Financial Stock Performance

The firm has a market cap of C$45.44 billion, a PE ratio of 22.32, a PEG ratio of 2.01 and a beta of 0.57. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. The company has a 50-day simple moving average of C$245.97 and a two-hundred day simple moving average of C$232.41.

Intact Financial (TSE:IFC) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$3.61 by C$1.25. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. The company had revenue of C$7.07 billion for the quarter, compared to the consensus estimate of C$7.64 billion. As a group, equities research analysts forecast that Intact Financial Co. will post 15.9993679 earnings per share for the current year.

Intact Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.21 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.84 annualized dividend and a dividend yield of 1.90%. Intact Financial’s payout ratio is currently 42.68%.

Insider Activity at Intact Financial

In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total value of C$2,230,768.00. 0.24% of the stock is owned by company insiders.

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.