CIBC Issues Positive Forecast for Intact Financial (TSE:IFC) Stock Price

Intact Financial (TSE:IFC) had its target price boosted by stock analysts at CIBC from C$280.00 to C$290.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm presently has a “neutral” rating on the stock. CIBC’s target price would suggest a potential upside of 0.59% from the company’s previous close.

A number of other research analysts have also commented on IFC. Cibc World Mkts lowered Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Raymond James increased their price target 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. Scotiabank boosted their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a report on Thursday, November 7th. BMO Capital Markets upped their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a research report on Thursday, November 7th. Finally, Jefferies Financial Group lifted their target price on Intact Financial from C$284.00 to C$301.00 in a research report on Thursday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Intact Financial has an average rating of “Moderate Buy” and an average target price of C$292.90.

Intact Financial Stock Performance

Shares of TSE:IFC traded down C$1.96 during midday trading on Thursday, hitting C$288.30. The company’s stock had a trading volume of 124,899 shares, compared to its average volume of 237,941. Intact Financial has a fifty-two week low of C$213.11 and a fifty-two week high of C$294.35. The stock has a market capitalization of C$51.28 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.01 and a beta of 0.57. The stock’s 50 day simple moving average is C$262.47 and its 200 day simple moving average is C$260.27.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of C$272.50, for a total transaction of C$504,125.00. Also, Senior Officer Charles Brindamour sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$268.50, for a total transaction of C$1,611,000.00. Insiders have sold 8,300 shares of company stock worth $2,235,154 over the last three months. Company 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.