Intact Financial (TSE:IFC) Price Target Increased to C$261.00 by Analysts at Raymond James

Intact Financial (TSE:IFC) had its target price boosted by Raymond James from C$247.00 to C$261.00 in a research report report published on Wednesday morning, BayStreet.CA reports. Raymond James currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the stock. National Bankshares increased their target price on shares of Intact Financial from C$245.00 to C$247.00 and gave the company an outperform rating in a research report on Tuesday, April 30th. TD Securities increased their price objective on Intact Financial from C$225.00 to C$235.00 and gave the company a buy rating in a report on Wednesday, February 14th. Scotiabank boosted their target price on Intact Financial from C$256.00 to C$261.00 in a research note on Friday, April 26th. BMO Capital Markets increased their price target on Intact Financial from C$230.00 to C$240.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Finally, Royal Bank of Canada boosted their price objective on Intact Financial from C$229.00 to C$236.00 and gave the company a sector perform rating in a research note on Monday, April 29th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intact Financial presently has a consensus rating of Moderate Buy and an average price target of C$245.00.

Intact Financial Stock Performance

Shares of Intact Financial stock opened at C$232.46 on Wednesday. The firm has a market capitalization of C$41.45 billion, a P/E ratio of 33.21, a price-to-earnings-growth 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. The business’s fifty day simple moving average is C$223.38 and its 200 day simple moving average is C$213.29. Intact Financial has a 12 month low of C$188.22 and a 12 month high of C$237.25.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, topping analysts’ consensus estimates of C$3.44 by C$0.03. The company had revenue of C$6.53 billion for the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. As a group, analysts anticipate that Intact Financial will post 14.526183 EPS for the current year.

Intact Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s payout ratio is presently 69.14%.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction that occurred on 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. 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.