Intact Financial (TSE:IFC) Price Target Raised to C$261.00

Intact Financial (TSE:IFC) had its target price upped by Scotiabank from C$256.00 to C$261.00 in a research note published on Friday morning, BayStreet.CA reports.

Other equities analysts also recently issued research reports about the company. Raymond James upped their target price on Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. Royal Bank of Canada increased their price objective on Intact Financial from C$228.00 to C$229.00 and gave the stock a sector perform rating in a research report on Wednesday, February 14th. BMO Capital Markets lifted their target price on Intact Financial from C$230.00 to C$240.00 and gave the stock an outperform rating in a report on Thursday, February 15th. National Bankshares decreased their price target on shares of Intact Financial from C$250.00 to C$245.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Finally, Desjardins lifted their price objective on shares of Intact Financial from C$235.00 to C$238.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of C$239.11.

Intact Financial Stock Up 1.5 %

IFC stock opened at C$224.31 on Friday. The business’s 50 day simple moving average is C$223.61 and its 200 day simple moving average is C$211.81. Intact Financial has a 1-year low of C$188.22 and a 1-year high of C$237.25. The firm has a market capitalization of C$40.00 billion, a PE ratio of 32.09, a PEG ratio of 2.01 and a beta of 0.54. The company has a current ratio of 0.38, a quick ratio of 0.28 and a debt-to-equity ratio of 34.90.

Intact Financial (TSE:IFC) last issued its quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, beating the consensus estimate of C$3.44 by C$0.03. The company had revenue of C$6.53 billion for the quarter. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. As a group, research analysts anticipate that Intact Financial will post 14.4651774 EPS for the current year.

Intact Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.21 per share. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.16%. Intact Financial’s dividend payout ratio (DPR) is currently 69.24%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total value of C$1,583,589.00. Company 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.