Intact Financial (TSE:IFC) Sets New 52-Week High at $22.90

Intact Financial Co. (TSE:IFC) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$22.90 and last traded at C$252.44, with a volume of 75625 shares changing hands. The stock had previously closed at C$251.93.

Analyst Ratings Changes

A number of analysts recently weighed in on IFC shares. Scotiabank cut 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 note on Thursday, August 22nd. CIBC increased their price objective on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Jefferies Financial Group decreased their price objective on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. TD Securities increased their target price on Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets raised their price target on Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Intact Financial currently has an average rating of “Moderate Buy” and a consensus target price of C$264.40.

Intact Financial Stock Performance

The company has a market cap of C$44.70 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The firm has a 50-day simple moving average of C$245.03 and a 200 day simple moving average of C$232.06. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26.

Intact Financial (TSE:IFC) last issued its quarterly earnings data on Tuesday, July 30th. The company reported C$4.86 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.61 by C$1.25. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. The company had revenue of C$7.07 billion for the quarter, compared to the consensus estimate of C$7.64 billion. On average, sell-side analysts predict that Intact Financial Co. will post 15.6602484 earnings per share for the current fiscal year.

Intact Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $1.21 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.84 annualized dividend and a yield of 1.93%. Intact Financial’s dividend payout ratio is currently 42.64%.

Insiders Place Their Bets

In related news, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of C$223.08, for a total value of C$2,230,768.00. 0.24% of the stock is owned by 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.