Short Interest in Intact Financial Co. (OTCMKTS:IFCZF) Increases By 63.2%

Intact Financial Co. (OTCMKTS:IFCZF) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 1,040,332 shares, an increase of 63.2% from the May 14th total of 637,544 shares. Based on an average daily volume of 1,472 shares, the days-to-cover ratio is presently 706.7 days. Approximately 0.6% of the company’s shares are short sold.

Intact Financial Price Performance

Shares of OTCMKTS IFCZF opened at $199.35 on Wednesday. The stock has a market capitalization of $35.20 billion and a P/E ratio of 14.67. Intact Financial has a 1-year low of $174.43 and a 1-year high of $256.31. The business has a fifty day moving average price of $191.28 and a 200 day moving average price of $192.67.

Intact Financial (OTCMKTS:IFCZF) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $3.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.24. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Intact Financial had a return on equity of 19.25% and a net margin of 12.02%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IFCZF. TD Securities reissued a “buy” rating on shares of Intact Financial in a research note on Wednesday, May 6th. Barclays reissued an “overweight” rating on shares of Intact Financial in a research note on Wednesday, May 6th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Intact Financial has a consensus rating of “Buy”.

Intact Financial Company Profile

Intact Financial Corporation is a leading Canadian property and casualty insurance provider offering a broad range of personal and commercial insurance products and services. Its primary operations in Canada are conducted through Intact Insurance and belairdirect, while its specialty insurance business in the United States operates under the OneBeacon Insurance Group brand. The company’s portfolio includes coverage for auto, home, commercial property and casualty, specialty lines, and accident and health, supported by risk management and claims solutions tailored to individuals, small and medium-sized enterprises, and large corporate clients.

Tracing its origins to the Halifax Fire Insurance Association founded in 1809, Intact Financial has expanded through a series of strategic mergers and acquisitions.