BMO Capital Markets Forecasts Strong Price Appreciation for Intact Financial (TSE:IFC) Stock

Intact Financial (TSE:IFC) had its price objective lifted by BMO Capital Markets from C$275.00 to C$290.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

Several other research analysts also recently commented on IFC. Jefferies Financial Group decreased their price objective on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Cormark increased their price objective on Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. National Bankshares upped their price target on shares of Intact Financial from C$294.00 to C$296.00 in a report on Wednesday. Scotiabank raised their price target on shares of Intact Financial from C$281.00 to C$283.00 in a report on Thursday. Finally, TD Securities lifted their price objective on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Price Performance

IFC stock traded up C$0.43 during mid-day trading on Thursday, hitting C$264.40. 48,553 shares of the stock were exchanged, compared to its average volume of 286,054. The business has a fifty day moving average price of C$259.90 and a 200 day moving average price of C$243.33. The stock has a market capitalization of C$47.16 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 2.01 and a beta of 0.57. Intact Financial has a 12 month low of C$197.82 and a 12 month high of C$273.05. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.21 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.83%. Intact Financial’s dividend payout ratio is currently 42.61%.

Insider Activity at Intact Financial

In other news, Senior Officer Kenneth Anderson sold 2,000 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of C$253.88, for a total value of C$507,759.00. 0.24% of the stock is owned by corporate 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.