Intact Financial (TSE:IFC) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Intact Financial Co. (TSE:IFC)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$255.22 and traded as high as C$261.42. Intact Financial shares last traded at C$258.22, with a volume of 202,865 shares.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on IFC shares. Raymond James increased their price target on Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. Scotiabank increased their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. National Bankshares upped their target price on Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. TD Securities boosted their price objective on Intact Financial from C$293.00 to C$300.00 in a report on Wednesday, November 6th. Finally, BMO Capital Markets increased their target price on Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Trading Down 0.8 %

The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The company has a market capitalization of C$46.09 billion, a P/E ratio of 22.75, a PEG ratio of 2.01 and a beta of 0.57. The company’s fifty day simple moving average is C$266.02 and its 200-day simple moving average is C$255.50.

Intact Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Monday, December 16th. Intact Financial’s payout ratio is 42.61%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Marie-Lucie Paradis sold 565 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$266.23, for a total transaction of C$150,419.95. Also, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$272.50, for a total value of C$504,125.00. Insiders have sold 8,865 shares of company stock worth $2,385,573 over the last quarter. 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.