Intact Financial (TSE:IFC) Price Target Raised to C$315.00

Intact Financial (TSE:IFC) had its target price boosted by investment analysts at Desjardins from C$295.00 to C$315.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price indicates a potential upside of 9.26% from the stock’s previous close.

IFC has been the topic of several other reports. National Bankshares raised their price objective on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. TD Securities increased their price target on Intact Financial from C$300.00 to C$324.00 and gave the company a “buy” rating in a research note on Wednesday. CIBC upped their price target on shares of Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a research note on Thursday. Raymond James upped their target price on shares of Intact Financial from C$290.00 to C$302.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, BMO Capital Markets lifted their target price on Intact Financial from C$290.00 to C$315.00 in a report on Thursday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Intact Financial presently has a consensus rating of “Moderate Buy” and an average target price of C$292.90.

Intact Financial Stock Performance

Shares of IFC traded down C$1.96 during mid-day trading on Thursday, hitting C$288.30. 124,899 shares of the company traded hands, compared to its average volume of 237,941. The stock has a market cap of C$51.28 billion, a price-to-earnings ratio of 22.32, a P/E/G ratio of 2.01 and a beta of 0.57. Intact Financial has a 1 year low of C$213.11 and a 1 year high of C$294.35. The stock has a 50-day moving average price of C$262.47 and a two-hundred day moving average price of C$260.27.

Insider Activity

In related news, Senior Officer Charles Brindamour sold 6,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of C$268.50, for a total value of C$1,611,000.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial 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 transaction of C$120,028.50. Over the last 90 days, insiders have sold 8,300 shares of company stock worth $2,235,154. Company insiders own 0.24% of the company’s stock.

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.