Intact Financial (TSE:IFC) Downgraded to Hold Rating by Cibc World Mkts

Cibc World Mkts downgraded shares of Intact Financial (TSE:IFC) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

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

Intact Financial Stock Up 1.0 %

Intact Financial stock opened at C$257.74 on Wednesday. The firm has a market capitalization of C$45.97 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.01 and a beta of 0.57. The company’s 50 day simple moving average is C$262.24 and its 200 day simple moving average is C$258.15. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. Intact Financial has a fifty-two week low of C$206.57 and a fifty-two week high of C$275.84.

Intact Financial (TSE:IFC) last posted its earnings results on Tuesday, November 5th. The company reported C$1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.72. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. During the same quarter in the previous year, the business posted $2.10 earnings per share. As a group, sell-side analysts anticipate that Intact Financial will post 16.1721014 EPS for the current year.

Intact Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Monday, December 16th. Intact Financial’s dividend payout ratio is currently 42.61%.

Insiders Place Their Bets

In related news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Charles Brindamour sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of C$268.50, for a total transaction of C$1,611,000.00. Insiders have sold 8,865 shares of company stock valued at $2,385,573 in the last ninety days. 0.24% of the stock is currently owned by 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.