Desjardins Comments on Intact Financial Co.’s Q1 2024 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Desjardins boosted their Q1 2024 earnings per share (EPS) estimates for Intact Financial in a report issued on Monday, April 15th. Desjardins analyst D. Young now expects that the company will post earnings per share of $3.50 for the quarter, up from their prior estimate of $3.30. Desjardins has a “Buy” rating and a $238.00 price target on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $14.47 per share. Desjardins also issued estimates for Intact Financial’s FY2024 earnings at $14.65 EPS.

Intact Financial (TSE:IFC) last announced its quarterly earnings data 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. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The firm had revenue of C$6.53 billion for the quarter.

Other equities research analysts also recently issued research reports about the company. Raymond James lifted their target price on Intact Financial from C$221.00 to C$247.00 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 company an “outperform” rating in a research report on Thursday, February 15th. CIBC lifted their target price on 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. TD Securities lifted their target price on Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, National Bankshares reduced their target price on Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$236.70.

Intact Financial Price Performance

TSE:IFC opened at C$219.67 on Tuesday. Intact Financial has a 52 week low of C$188.22 and a 52 week high of C$237.25. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. The company has a market capitalization of C$39.17 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.01 and a beta of 0.54. The stock’s fifty day moving average is C$222.85 and its two-hundred day moving average is C$210.56.

Intact Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.21 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.20%. Intact Financial’s payout ratio is presently 69.24%.

Insider Activity

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. 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.