Intact Financial (TSE:IFC) Reaches New 52-Week High – Here’s What Happened

Intact Financial Co. (TSE:IFC) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$273.20 and last traded at C$273.15, with a volume of 500 shares trading hands. The stock had previously closed at C$272.20.

Analysts Set New Price Targets

IFC has been the topic of a number of recent research reports. Cormark raised their price objective on shares of 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. Scotiabank upped their target price on shares of Intact Financial from C$281.00 to C$283.00 in a report on Thursday, November 7th. Raymond James lifted their price target on Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday, November 6th. Jefferies Financial Group lowered their price objective on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a research note on Thursday, August 22nd. Finally, TD Securities lifted their target price on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of C$274.90.

Intact Financial Stock Down 0.4 %

The firm has a market capitalization of C$48.46 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. The stock has a fifty day moving average of C$263.78 and a 200 day moving average of C$246.72.

Intact Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, December 16th. Intact Financial’s dividend payout ratio (DPR) is currently 42.61%.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total transaction of C$507,759.00. Also, Senior Officer Marie-Lucie Paradis sold 565 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of C$266.23, for a total transaction of C$150,419.95. Over the last 90 days, insiders sold 4,565 shares of company stock worth $1,168,179. Insiders own 0.24% of the company’s stock.

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.