Intact Financial Co. (TSE:IFC) Receives Average Rating of “Moderate Buy” from Brokerages

Intact Financial Co. (TSE:IFC) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$236.70.

Several equities research analysts have issued reports on IFC shares. Royal Bank of Canada lifted their price objective on Intact Financial from C$228.00 to C$229.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 14th. Raymond James boosted their price target on Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. CIBC boosted their price target on Intact Financial from C$225.00 to C$250.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. BMO Capital Markets boosted their price target on Intact Financial from C$230.00 to C$240.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, TD Securities boosted their price target on Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a report on Wednesday, February 14th.

Insider Activity at Intact Financial

In related news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. Insiders own 0.23% of the company’s stock.

Intact Financial Price Performance

IFC stock opened at C$222.81 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. Intact Financial has a 52-week low of C$188.22 and a 52-week high of C$237.25. The stock’s 50 day moving average is C$223.64 and its two-hundred day moving average is C$211.18. The company has a market capitalization of C$39.73 billion, a PE ratio of 31.88, a P/E/G ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC) last posted its quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of C$3.44 by C$0.03. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The company had revenue of C$6.53 billion for the quarter. Analysts predict that Intact Financial will post 14.4651774 earnings per share for the current fiscal year.

Intact Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.21 per share. The ex-dividend date was Thursday, March 14th. This represents a $4.84 dividend on an annualized basis and a yield of 2.17%. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s payout ratio is currently 69.24%.

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.