Intact Financial (TSE:IFC) Reaches New 52-Week High at $23.14

Intact Financial Co. (TSE:IFC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$23.14 and last traded at C$249.92, with a volume of 33398 shares traded. The stock had previously closed at C$249.08.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IFC. National Bankshares upped their price target 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. Cormark increased their target price on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada lifted their price objective on Intact Financial from C$226.00 to C$243.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 8th. Jefferies Financial Group upped their target price on shares of Intact Financial from C$241.00 to C$264.00 in a report on Thursday, August 1st. Finally, BMO Capital Markets upped their price objective on Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$265.50.

Intact Financial Stock Up 0.6 %

The firm has a 50 day moving average price of C$235.12 and a two-hundred day moving average price of C$227.35. 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 firm has a market capitalization of C$44.69 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53.

Intact Financial Announces Dividend

The firm 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 1.93%. Intact Financial’s dividend payout ratio is currently 56.21%.

Insider Buying and Selling at Intact Financial

In related 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 value of C$2,295,607.00. In related news, Senior Officer Frédéric Cotnoir sold 2,200 shares of the firm’s stock in a transaction 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 business’s stock in a transaction 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. Insiders sold 32,200 shares of company stock valued at $7,309,123 in the last ninety days. Company 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.