Intact Financial (TSE:IFC) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Intact Financial Co. (TSE:IFC) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$266.93 and traded as high as C$283.79. Intact Financial shares last traded at C$283.66, with a volume of 249,293 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently commented on IFC shares. UBS Group increased their price target on Intact Financial from C$275.00 to C$290.00 in a research report on Tuesday, February 18th. Desjardins upped their price target on Intact Financial from C$295.00 to C$315.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. CIBC lifted their target price on shares of Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Raymond James increased 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 report on Thursday, February 13th. Finally, BMO Capital Markets upped their price target on shares of Intact Financial from C$290.00 to C$315.00 in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$292.64.

Intact Financial Stock Performance

The business’s 50-day moving average is C$275.01 and its 200-day moving average is C$267.16. The company has a market capitalization of C$50.50 billion, a PE ratio of 21.98, a PEG ratio of 2.01 and a beta of 0.57.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Company insiders own 0.24% of the company’s stock.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space.