Intact Financial (TSE:IFC) Hits New 12-Month High – Time to Buy?

Intact Financial Co. (TSE:IFC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$23.07 and last traded at C$283.31, with a volume of 128772 shares traded. The stock had previously closed at C$279.47.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TD Securities increased their price objective on shares of 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. National Bankshares upped their price target on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. Cibc World Mkts lowered Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. UBS Group upped their target price on Intact Financial from C$275.00 to C$290.00 in a research report on Tuesday, February 18th. Finally, Desjardins lifted their target price on Intact Financial from C$295.00 to C$315.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$292.64.

Intact Financial Stock Up 1.6 %

The firm has a 50 day moving average price of C$265.02 and a 200 day moving average price of C$262.37. The stock has a market capitalization of C$50.49 billion, a PE ratio of 21.98, a P/E/G ratio of 2.01 and a beta of 0.57.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of C$266.73, for a total transaction of C$120,028.50. Also, Senior Officer Benoit Morissette sold 6,000 shares of the company’s 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 value of C$1,722,738.00. Over the last 90 days, insiders sold 8,300 shares of company stock worth $2,346,892. 0.24% of the stock is owned by corporate insiders.

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.