Intact Financial (TSE:IFC) Price Target Increased to C$275.00 by Analysts at BMO Capital Markets

Intact Financial (TSE:IFC) had its target price raised by BMO Capital Markets from C$250.00 to C$275.00 in a report issued on Thursday morning, BayStreet.CA reports.

Several other brokerages also recently weighed in on IFC. Raymond James lifted their price target on shares of Intact Financial from C$261.00 to C$269.00 and gave the company an outperform rating in a report on Wednesday. National Bankshares lifted their price objective on shares of Intact Financial from C$260.00 to C$265.00 and gave the company an outperform rating in a research report on Monday. 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 research report on Wednesday, May 8th. Cormark boosted their price target on shares of Intact Financial from C$250.00 to C$260.00 and gave the stock a buy rating in a research report on Thursday. Finally, Desjardins boosted their price target on shares of Intact Financial from C$250.00 to C$255.00 and gave the stock a buy rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of C$260.18.

Intact Financial Stock Performance

Shares of TSE IFC traded down C$0.58 during trading on Thursday, reaching C$244.44. 2,047 shares of the company traded hands, compared to its average volume of 290,382. The firm has a 50 day simple moving average of C$231.92 and a 200-day simple moving average of C$224.79. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 32.83. The stock has a market capitalization of C$43.58 billion, a PE ratio of 28.46, a P/E/G ratio of 2.01 and a beta of 0.53. Intact Financial has a 52-week low of C$188.22 and a 52-week high of C$263.74.

Intact Financial (TSE:IFC) last posted its quarterly earnings data on Tuesday, May 7th. The company reported C$3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$3.43 by C$0.20. Intact Financial had a net margin of 5.55% and a return on equity of 10.00%. The company had revenue of C$7.06 billion for the quarter, compared to the consensus estimate of C$8.33 billion. Equities research analysts anticipate that Intact Financial will post 14.6728435 earnings per share for the current year.

Intact Financial Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, September 13th. This represents a $4.84 dividend on an annualized basis and a yield of 1.98%. Intact Financial’s dividend payout ratio is presently 56.21%.

Insiders Place Their Bets

In other news, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. In other Intact Financial news, Senior Officer Louis Marcotte sold 300 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total value of C$68,583.00. Also, Senior Officer Louis Gagnon sold 10,000 shares of the company’s stock in a transaction that occurred 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. Over the last ninety days, insiders sold 32,500 shares of company stock worth $7,377,706. 0.23% of the stock is owned by corporate insiders.

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.