Intact Financial (TSE:IFC) Given New C$236.00 Price Target at Royal Bank of Canada

Intact Financial (TSE:IFC) had its target price increased by Royal Bank of Canada from C$229.00 to C$236.00 in a research report sent to investors on Monday morning, BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other analysts have also issued reports about the company. National Bankshares decreased their price objective on Intact Financial from C$250.00 to C$245.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Raymond James boosted their price objective on Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. Scotiabank boosted their price objective on Intact Financial from C$256.00 to C$261.00 in a research note on Friday, April 26th. CIBC upped their target price on Intact Financial from C$225.00 to C$250.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. Finally, TD Securities upped their target price on Intact Financial from C$225.00 to C$235.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Intact Financial has a consensus rating of Moderate Buy and an average target price of C$240.11.

Intact Financial Stock Performance

Shares of IFC opened at C$228.87 on Monday. The firm has a market cap of C$40.81 billion, a PE ratio of 32.74, a PEG ratio of 2.01 and a beta of 0.54. The stock’s fifty day moving average price is C$223.59 and its two-hundred day moving average price is C$212.30. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28. Intact Financial has a 1 year low of C$188.22 and a 1 year high of C$237.25.

Intact Financial (TSE:IFC) last issued its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, beating 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 firm had revenue of C$6.53 billion for the quarter. On average, equities research analysts forecast that Intact Financial will post 14.4651774 EPS for the current year.

Intact Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $1.21 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a dividend yield of 2.11%. Intact Financial’s dividend payout ratio is 69.24%.

Insider Activity

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the stock in a transaction dated 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. Corporate insiders own 0.23% of the company’s stock.

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.