Intact Financial Co. Announces Quarterly Dividend of $1.21 (TSE:IFC)

Intact Financial Co. (TSE:IFC) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Monday, December 16th will be paid a dividend of 1.21 per share on Tuesday, December 31st. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Monday, December 16th.

Intact Financial Price Performance

Shares of TSE:IFC traded down C$1.56 during mid-day trading on Thursday, reaching C$263.46. The stock had a trading volume of 9,843 shares, compared to its average volume of 286,096. The business’s 50 day moving average price is C$259.90 and its 200 day moving average price is C$243.33. Intact Financial has a 1 year low of C$197.82 and a 1 year high of C$273.05. The company has a market cap of C$46.99 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. CIBC upped their price objective on Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. TD Securities upped their price target on shares of Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday. Cormark lifted their price objective on shares of 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. Scotiabank decreased their target price on shares of Intact Financial from C$272.00 to C$263.00 and set an “outperform” rating on the stock in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group lowered their price target on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$271.40.

Insiders Place Their Bets

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