Brokerages Set Intact Financial Co. (TSE:IFC) Target Price at C$264.40

Intact Financial Co. (TSE:IFC) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is C$263.90.

Several equities analysts have recently issued reports on the company. Scotiabank lowered their price target on Intact Financial from C$272.00 to C$263.00 and set an “outperform” rating for the company in a research report on Thursday, August 22nd. BMO Capital Markets upped their price target on shares of Intact Financial from C$250.00 to C$275.00 in a research note on Thursday, August 1st. National Bankshares upped their price target on shares of Intact Financial from C$260.00 to C$265.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Jefferies Financial Group dropped their price target on shares of 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. Finally, Cormark upped their target price 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.

Insider Buying and Selling at Intact Financial

In related news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of C$253.88, for a total transaction of C$507,759.00. Insiders own 0.24% of the company’s stock.

Intact Financial Stock Up 1.3 %

IFC stock opened at C$258.52 on Tuesday. Intact Financial has a fifty-two week low of C$188.27 and a fifty-two week high of C$265.10. The business’s 50 day moving average price is C$253.19 and its two-hundred day moving average price is C$236.70. 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 company has a market capitalization of C$46.11 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last posted its earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share for the quarter, topping analysts’ consensus estimates of C$3.61 by C$1.25. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. The firm had revenue of C$7.07 billion for the quarter, compared to the consensus estimate of C$7.64 billion. As a group, analysts forecast that Intact Financial will post 15.774665 earnings per share for the current fiscal year.

Intact Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $1.21 dividend. This represents a $4.84 annualized dividend and a yield of 1.87%. The ex-dividend date was Friday, September 13th. Intact Financial’s dividend payout ratio is currently 42.64%.

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.