Intact Financial (TSE:IFC) Hits New 12-Month High After Analyst Upgrade

Intact Financial Co. (TSE:IFC) hit a new 52-week high during trading on Wednesday after Desjardins raised their price target on the stock from C$295.00 to C$315.00. Desjardins currently has a buy rating on the stock. Intact Financial traded as high as C$287.82 and last traded at C$284.00, with a volume of 13646 shares trading hands. The stock had previously closed at C$276.23.

IFC has been the subject of several other reports. BMO Capital Markets increased their price objective on Intact Financial from C$290.00 to C$315.00 in a research note on Thursday. Jefferies Financial Group increased their target price on Intact Financial from C$284.00 to C$301.00 in a report on Thursday. Scotiabank increased their target price on Intact Financial from C$281.00 to C$283.00 in a report on Thursday, November 7th. Raymond James increased their target price on Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, CIBC increased their target price on Intact Financial from C$280.00 to C$290.00 and gave the stock a “neutral” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$292.90.

Insider Transactions at Intact Financial

In related news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the business’s stock in a transaction that occurred on 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 business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total value of C$120,028.50. Insiders have sold a total of 14,300 shares of company stock worth $3,957,892 in the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Intact Financial Stock Performance

The business has a fifty day simple moving average of C$262.47 and a 200 day simple moving average of C$260.27. The stock has a market capitalization of C$51.07 billion, a price-to-earnings ratio of 22.23, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

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.