Intact Financial (TSE:IFC) Price Target Raised to C$238.00

Intact Financial (TSE:IFC) had its price objective boosted by Desjardins from C$235.00 to C$238.00 in a report released on Tuesday morning, BayStreet.CA reports. The firm currently has a buy rating on the stock. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

Other research analysts have also issued research reports about the company. BMO Capital Markets increased their target price on Intact Financial from C$230.00 to C$240.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Scotiabank increased their target price on Intact Financial from C$252.00 to C$256.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Raymond James increased their target price on Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. CIBC increased their target price on Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a research report on Thursday, February 15th. Finally, TD Securities increased their target price on Intact Financial from C$225.00 to C$235.00 and gave the company a buy rating in a research report on Wednesday, February 14th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$236.70.

Intact Financial Trading Up 1.0 %

Intact Financial stock opened at C$221.82 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.28 and a debt-to-equity ratio of 34.90. Intact Financial has a 12 month low of C$188.22 and a 12 month high of C$237.25. The stock’s 50 day simple moving average is C$223.11 and its two-hundred day simple moving average is C$210.63. The firm has a market cap of C$39.55 billion, a PE ratio of 31.73, a P/E/G ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC) last released its quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 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 business had revenue of C$6.53 billion for the quarter. Analysts anticipate that Intact Financial will post 14.4651774 earnings per share for the current year.

Intact Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $1.21 dividend. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Thursday, March 14th. Intact Financial’s dividend payout ratio is currently 69.24%.

Insider Activity at Intact Financial

In other Intact Financial 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 value of C$1,583,589.00. 0.23% of the stock is owned by corporate 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.