Intact Financial (TSE:IFC) Hits New 1-Year High – Should You Buy?

Intact Financial Co. (TSE:IFC)’s share price hit 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 changing hands. The stock had previously closed at C$272.20.

Analyst Upgrades and Downgrades

IFC has been the subject of several research reports. TD Securities increased their price objective on shares of Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday, November 6th. Scotiabank increased their price target on Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. Cormark boosted their price objective on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Raymond James upped their target price on Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. Finally, Jefferies Financial Group cut their price target on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Intact Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Stock Performance

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 stock’s 50 day moving average price is C$263.78 and its 200 day moving average price is C$246.72. The company 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.

Intact Financial Dividend Announcement

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

Insider Transactions at Intact Financial

In other news, Senior Officer Marie-Lucie Paradis sold 565 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$266.23, for a total transaction of C$150,419.95. Also, Senior Officer Kenneth Anderson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total value of C$507,759.00. In the last ninety days, insiders sold 4,565 shares of company stock valued at $1,168,179. Corporate 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.