Intact Financial (TSE:IFC) Sets New 52-Week High at $242.43

Intact Financial Co. (TSE:IFC)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$242.43 and last traded at C$242.14, with a volume of 106650 shares traded. The stock had previously closed at C$237.83.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on IFC. Desjardins upped their target price on shares of Intact Financial from C$235.00 to C$238.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Scotiabank upped their price objective on Intact Financial from C$261.00 to C$264.00 in a research report on Thursday, May 9th. TD Securities lifted their target price on Intact Financial from C$250.00 to C$258.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets upped their price target on Intact Financial from C$240.00 to C$250.00 in a research report on Thursday, May 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$247.20.

Intact Financial Trading Up 2.0 %

The company has a market cap of C$43.25 billion, a P/E ratio of 28.09, a PEG ratio of 2.01 and a beta of 0.53. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 32.83. The business has a 50 day moving average price of C$228.96 and a 200-day moving average price of C$222.52.

Intact Financial (TSE:IFC) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$3.63 EPS for the quarter, beating analysts’ consensus estimates of C$3.43 by C$0.20. The firm had revenue of C$7.06 billion during the quarter, compared to analysts’ expectations of C$8.33 billion. Intact Financial had a net margin of 5.55% and a return on equity of 10.00%. Analysts forecast that Intact Financial Co. will post 14.6728435 earnings per share for the current fiscal year.

Intact Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Friday, June 14th. Intact Financial’s dividend payout ratio (DPR) is presently 56.21%.

Insider Buying and Selling

In related news, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of C$229.56, for a total value of C$2,295,607.00. In other news, Senior Officer Louis Gagnon sold 10,000 shares of Intact Financial stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$229.56, for a total transaction of C$2,295,607.00. Also, Senior Officer Frédéric Cotnoir sold 2,200 shares of Intact Financial stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total transaction of C$501,861.80. In the last three months, insiders have sold 32,500 shares of company stock valued at $7,377,706. 0.23% of the stock is 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.