Intact Financial (TSE:IFC) Price Target Increased to C$261.00 by Analysts at Scotiabank

Intact Financial (TSE:IFC) had its price target lifted by Scotiabank from C$256.00 to C$261.00 in a research note issued to investors on Friday morning, BayStreet.CA reports.

A number of other analysts also recently commented on IFC. National Bankshares decreased their target price on Intact Financial from C$250.00 to C$245.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Desjardins boosted their price objective on shares of Intact Financial from C$235.00 to C$238.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Raymond James raised their target price on shares of Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. CIBC upped their price target on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a report on Thursday, February 15th. Finally, TD Securities lifted their price objective on Intact Financial from C$225.00 to C$235.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of C$237.20.

Intact Financial Stock Performance

Shares of IFC opened at C$224.31 on Friday. The company has a market capitalization of C$40.00 billion, a PE ratio of 32.09, a P/E/G ratio of 2.01 and a beta of 0.54. Intact Financial has a 52-week low of C$188.22 and a 52-week high of C$237.25. The company has a 50-day simple moving average of C$223.61 and a 200-day simple moving average of C$211.64. 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 (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 analysts’ consensus estimates of C$3.44 by C$0.03. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. The company had revenue of C$6.53 billion during the quarter. Equities research analysts predict that Intact Financial will post 14.4651774 earnings per share for the current fiscal year.

Intact Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $1.21 dividend. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, March 14th. Intact Financial’s payout ratio is presently 69.24%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the firm’s stock in a transaction 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. 0.23% of the stock is currently owned by insiders.

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.