Intact Financial (TSE:IFC) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Intact Financial Co. (TSE:IFC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$266.93 and traded as high as C$283.79. Intact Financial shares last traded at C$283.66, with a volume of 249,293 shares changing hands.

Wall Street Analyst Weigh In

IFC has been the topic of a number of research analyst reports. Cibc World Mkts lowered shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 29th. CIBC increased their target price on Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. TD Securities lifted their price target on Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. UBS Group increased their price objective on Intact Financial from C$275.00 to C$290.00 in a research report on Tuesday, February 18th. Finally, Raymond James boosted their target price on shares of Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$292.64.

Intact Financial Stock Performance

The company has a market cap of C$50.50 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 2.01 and a beta of 0.57. The company’s 50 day moving average price is C$275.01 and its 200 day moving average price is C$267.16.

Insider Activity at Intact Financial

In other news, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Insiders own 0.24% of the company’s stock.

About Intact Financial

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space.