Intact Financial (TSE:IFC) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$265.61 and traded as high as C$282.78. Intact Financial shares last traded at C$282.33, with a volume of 180,622 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Intact Financial from C$284.00 to C$301.00 in a research note on Thursday, February 13th. BMO Capital Markets lifted their price target on shares of Intact Financial from C$290.00 to C$315.00 in a research note on Thursday, February 13th. CIBC lifted their price target on shares of Intact Financial from C$280.00 to C$290.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Cibc World Mkts downgraded shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Desjardins raised their price objective on shares of Intact Financial from C$295.00 to C$315.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$292.64.

Intact Financial Stock Performance

The company’s fifty day simple moving average is C$271.39 and its two-hundred day simple moving average is C$265.61. The company has a market capitalization of C$50.22 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Insider Activity

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

About Intact Financial

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.