Intact Financial (TSE:IFC) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$245.78 and traded as high as C$268.87. Intact Financial shares last traded at C$268.34, with a volume of 299,314 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. TD Securities upped their price target on Intact Financial from C$293.00 to C$300.00 in a report on Wednesday, November 6th. CIBC increased their target price on Intact Financial from C$250.00 to C$270.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. BMO Capital Markets lifted their price target on shares of Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Raymond James upped their price objective on shares of Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. Finally, Desjardins lifted their target price on shares of 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. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Intact Financial has an average rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Stock Performance

The company has a market cap of C$47.86 billion, a PE ratio of 23.62, a PEG ratio of 2.01 and a beta of 0.57. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The firm’s 50 day moving average is C$262.36 and its 200-day moving average is C$245.78.

Intact Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $1.21 dividend. The ex-dividend date is Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.80%. Intact Financial’s dividend payout ratio (DPR) is presently 42.61%.

Insider Buying and Selling

In related news, Senior Officer Kenneth Anderson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total transaction of C$507,759.00. Also, Senior Officer Marie-Lucie Paradis sold 565 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of C$266.23, for a total transaction of C$150,419.95. Over the last 90 days, insiders have sold 4,565 shares of company stock worth $1,168,179. 0.24% of the stock is owned by corporate insiders.

Intact Financial Company Profile

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.