Intact Financial (TSE:IFC – Free Report) had its target price hoisted by Desjardins from C$235.00 to C$238.00 in a research report report published on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.
Several other equities analysts have also issued reports on the stock. National Bankshares decreased their price target on shares of Intact Financial from C$250.00 to C$245.00 and set an outperform rating for the company in a report on Thursday, February 15th. BMO Capital Markets boosted their price objective on shares of Intact Financial from C$230.00 to C$240.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Royal Bank of Canada boosted their price objective on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. Raymond James boosted their price objective on shares of Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. Finally, CIBC boosted their price objective on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Intact Financial presently has an average rating of Moderate Buy and a consensus price target of C$236.70.
View Our Latest Report on Intact Financial
Intact Financial Price Performance
Intact Financial (TSE:IFC – Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.44 by C$0.03. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. The company had revenue of C$6.53 billion during the quarter. On average, equities research analysts forecast that Intact Financial will post 14.4651774 earnings per share for the current year.
Intact Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.21 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.19%. Intact Financial’s payout ratio is 69.24%.
Insiders Place Their Bets
In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. Insiders own 0.23% 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.
Further Reading
- Five stocks we like better than Intact Financial
- What is the Dow Jones Industrial Average (DJIA)?
- Silicon Motion Proves That AI in Motion Stays in Motion
- Breakout Stocks: What They Are and How to Identify Them
- Undervalued UnitedHealth Group Won’t Be For Long
- Business Services Stocks Investing
- The 5 Stocks Most Sold By Insiders This Year
Receive News & Ratings for Intact Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intact Financial and related companies with MarketBeat.com's FREE daily email newsletter.