Brokerages Set Intact Financial Co. (TSE:IFC) Target Price at C$274.90

Intact Financial Co. (TSE:IFC) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$274.90.

IFC has been the topic of several recent analyst reports. National Bankshares boosted their target price on Intact Financial from C$294.00 to C$296.00 in a report on Wednesday, November 6th. TD Securities raised their target price on Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday, November 6th. BMO Capital Markets increased their price objective on Intact Financial from C$275.00 to C$290.00 in a research report on Thursday, November 7th. Raymond James increased their price target on Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. Finally, Scotiabank lifted their target price on shares of Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th.

Intact Financial Stock Up 0.5 %

Intact Financial stock opened at C$264.20 on Friday. Intact Financial has a 52 week low of C$200.08 and a 52 week high of C$275.84. The stock has a market cap of C$47.12 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.01 and a beta of 0.57. The company’s 50-day moving average price is C$267.29 and its two-hundred day moving average price is C$252.34. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26.

Intact Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.21 per share. The ex-dividend date is Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.83%. Intact Financial’s dividend payout ratio is currently 42.61%.

Insider Buying and Selling

In related news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$272.50, for a total transaction of C$504,125.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of C$266.73, for a total value of C$120,028.50. Over the last three months, insiders sold 8,865 shares of company stock worth $2,385,573. Corporate insiders own 0.24% 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.