Intact Financial (TSE:IFC) Lowered to Hold Rating by Cibc World Mkts

Cibc World Mkts lowered shares of Intact Financial (TSE:IFC) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Several other analysts also recently commented on IFC. National Bankshares increased their price objective on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. Raymond James increased their price objective on shares of Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. Scotiabank increased their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. TD Securities increased their price objective on shares of Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. Finally, BMO Capital Markets increased their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Intact Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$274.90.

Intact Financial Stock Up 0.2 %

Shares of TSE IFC opened at C$258.15 on Wednesday. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. Intact Financial has a 12 month low of C$206.57 and a 12 month high of C$275.84. The firm has a market capitalization of C$46.04 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The firm has a fifty day simple moving average of C$261.95 and a two-hundred day simple moving average of C$258.30.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, November 5th. The company reported C$1.01 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.29 by C$0.72. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. During the same period in the prior year, the firm posted $2.10 EPS. Equities analysts expect that Intact Financial will post 16.1721014 earnings per share for the current year.

Intact Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, December 16th. Intact Financial’s payout ratio is 42.61%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of Intact Financial stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$272.50, for a total transaction of C$504,125.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total value of C$120,028.50. Insiders sold a total of 8,865 shares of company stock valued at $2,385,573 in the last three months. 0.24% of the stock is currently owned by corporate insiders.

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.