Intact Financial (TSE:IFC) Price Target Raised to C$282.00 at TD Securities

Intact Financial (TSE:IFC) had its price target raised by TD Securities from C$270.00 to C$282.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Cormark increased their price target on Intact Financial from C$243.00 to C$250.00 and gave the company a buy rating in a research report on Friday, July 26th. Scotiabank increased their price target on Intact Financial from C$264.00 to C$272.00 in a research report on Wednesday, July 24th. Desjardins increased their price target on Intact Financial from C$250.00 to C$255.00 and gave the company a buy rating in a research report on Tuesday, July 23rd. Jefferies Financial Group cut their target price on Intact Financial from C$242.00 to C$241.00 in a research report on Monday, July 22nd. Finally, Royal Bank of Canada raised their target price on Intact Financial from C$226.00 to C$243.00 and gave the stock a sector perform rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of C$260.18.

Intact Financial Stock Performance

Shares of Intact Financial stock opened at C$246.76 on Wednesday. The business has a 50-day moving average of C$232.27 and a 200 day moving average of C$225.24. Intact Financial has a 12 month low of C$188.22 and a 12 month high of C$263.74. The stock has a market capitalization of C$44.00 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. The company has a debt-to-equity ratio of 32.83, a current ratio of 0.35 and a quick ratio of 0.28.

Intact Financial (TSE:IFC) last posted its quarterly earnings results on Tuesday, May 7th. The company reported C$3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$3.43 by C$0.20. The company had revenue of C$7.06 billion for the quarter, compared to analyst estimates of C$8.33 billion. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. As a group, sell-side analysts forecast that Intact Financial will post 14.6728435 earnings per share for the current year.

Intact Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a dividend of $1.21 per share. The ex-dividend date is Friday, September 13th. This represents a $4.84 dividend on an annualized basis and a yield of 1.96%. Intact Financial’s dividend payout ratio is presently 56.21%.

Insider Buying and Selling

In related news, Senior Officer Louis Gagnon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total transaction of C$2,230,768.00. In other Intact Financial news, Senior Officer Louis Gagnon sold 10,000 shares of Intact Financial stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of C$223.08, for a total value of C$2,230,768.00. Also, Senior Officer Frédéric Cotnoir sold 2,200 shares of Intact Financial stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of C$228.12, for a total value of C$501,861.80. Insiders have sold 32,500 shares of company stock worth $7,377,706 in the last quarter. 0.23% of the stock is owned by insiders.

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.