TD Securities Raises Intact Financial (TSE:IFC) Price Target to C$282.00

Intact Financial (TSE:IFC) had its target price lifted by TD Securities from C$270.00 to C$282.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the stock. Desjardins upped their price target on shares of Intact Financial from C$250.00 to C$255.00 and gave the company a buy rating in a research note on Tuesday, July 23rd. National Bankshares upped their target price on Intact Financial from C$260.00 to C$265.00 and gave the company an outperform rating in a research report on Monday, July 29th. BMO Capital Markets lifted their price target on Intact Financial from C$240.00 to C$250.00 in a research report on Thursday, May 9th. Raymond James boosted their price target on Intact Financial from C$261.00 to C$269.00 and gave the company an outperform rating in a research note on Wednesday. Finally, Cormark lifted their target price on Intact Financial from C$243.00 to C$250.00 and gave the stock a buy rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of C$260.18.

Intact Financial Trading Up 0.7 %

TSE:IFC opened at C$246.76 on Wednesday. The firm has a 50 day moving average of C$232.27 and a 200 day moving average of C$225.09. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 32.83. Intact Financial has a 52 week low of C$188.22 and a 52 week high of C$263.74. The stock has a market capitalization of C$44.00 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 2.01 and a beta of 0.53.

Intact Financial (TSE:IFC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported C$3.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of C$8.33 billion. As a group, sell-side analysts anticipate that Intact Financial will post 14.6728435 earnings per share for the current fiscal year.

Intact Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, September 13th. Intact Financial’s payout ratio is presently 56.21%.

Insiders Place Their Bets

In other news, Senior Officer Louis Gagnon sold 10,000 shares of Intact Financial stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of C$229.56, for a total transaction of C$2,295,607.00. In other Intact Financial news, Senior Officer Frédéric Cotnoir sold 2,200 shares of the firm’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. Also, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 32,500 shares of company stock worth $7,377,706. Corporate 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.