Intact Financial (TSE:IFC) Hits New 1-Year High – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$276.26 and last traded at C$275.90, with a volume of 104665 shares traded. The stock had previously closed at C$270.50.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. National Bankshares boosted their price target on Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. BMO Capital Markets upped their target price on Intact Financial from C$275.00 to C$290.00 in a research report on Thursday, November 7th. TD Securities raised their price target on shares of Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday, November 6th. Cibc World Mkts downgraded shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Raymond James increased their price objective on shares of Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Stock Performance

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 price is C$261.77 and its 200-day moving average price is C$259.35. The firm has a market capitalization of C$49.36 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported C$1.01 EPS for the quarter, beating analysts’ consensus estimates of C$0.29 by C$0.72. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. During the same period in the previous year, the firm earned $2.10 earnings per share. On average, research analysts expect that Intact Financial Co. will post 16.1721014 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of C$272.50, for a total value of C$504,125.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial stock in a transaction on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total transaction of C$120,028.50. Insiders sold a total of 8,865 shares of company stock worth $2,385,573 in the last 90 days. 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.