Scotiabank Forecasts Strong Price Appreciation for Intact Financial (TSE:IFC) Stock

Intact Financial (TSE:IFC) had its price objective raised by Scotiabank from C$281.00 to C$283.00 in a research note issued to investors on Thursday,BayStreet.CA reports.

A number of other equities analysts also recently commented on IFC. Desjardins boosted their target price on shares of Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Raymond James upped their price objective on shares of Intact Financial from C$264.00 to C$290.00 in a report on Wednesday. Jefferies Financial Group cut their price objective on shares of 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 upped their target price on Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, National Bankshares upped their target price on Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Stock Performance

Shares of Intact Financial stock opened at C$266.23 on Thursday. The company has a market capitalization of C$47.48 billion, a PE ratio of 23.44, a P/E/G ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The company has a 50-day simple moving average of C$260.44 and a two-hundred day simple moving average of C$243.63. Intact Financial has a one year low of C$197.82 and a one year high of C$273.05.

Intact Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 1.82%. Intact Financial’s dividend payout ratio is presently 42.61%.

Insiders Place Their Bets

In other Intact Financial 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 value of C$507,759.00. Insiders own 0.24% of the company’s stock.

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.