Intact Financial (TSE:IFC) Shares Cross Above 200-Day Moving Average – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$269.70 and traded as high as C$282.36. Intact Financial shares last traded at C$274.69, with a volume of 511,036 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on IFC. Jefferies Financial Group lifted their price objective on shares of Intact Financial from C$284.00 to C$301.00 in a research report on Thursday, February 13th. UBS Group lifted their target price on Intact Financial from C$275.00 to C$290.00 in a report on Tuesday, February 18th. Raymond James boosted their price target on Intact Financial from C$290.00 to C$302.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. BMO Capital Markets raised their target price on shares of Intact Financial from C$290.00 to C$315.00 in a report on Thursday, February 13th. Finally, TD Securities boosted their price target on Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Intact Financial has an average rating of “Moderate Buy” and a consensus target price of C$292.64.

Intact Financial Trading Down 1.1 %

The company’s fifty day moving average is C$281.60 and its 200 day moving average is C$269.70. The company has a market capitalization of C$48.86 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.01 and a beta of 0.57.

Insiders Place Their Bets

In other Intact Financial news, Senior Officer Benoit Morissette sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Corporate insiders own 0.24% of the company’s stock.

Intact Financial Company Profile

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.