Intact Financial (TSE:IFC) Hits New 12-Month High – Should You Buy?

Shares of Intact Financial Co. (TSE:IFC) reached a new 52-week high on Monday . The stock traded as high as C$292.92 and last traded at C$293.28, with a volume of 117283 shares traded. The stock had previously closed at C$286.15.

Analyst Ratings Changes

Several research firms have recently commented on IFC. Raymond James lifted their target price on Intact Financial from C$290.00 to C$302.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. UBS Group boosted their price objective on Intact Financial from C$275.00 to C$290.00 in a report on Tuesday, February 18th. Jefferies Financial Group raised their target price on shares of Intact Financial from C$284.00 to C$301.00 in a research note on Thursday, February 13th. Cibc World Mkts downgraded shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, CIBC raised their price objective on shares of Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$292.64.

Intact Financial Stock Up 3.0 %

The firm has a market capitalization of C$52.41 billion, a P/E ratio of 22.81, a PEG ratio of 2.01 and a beta of 0.57. The firm has a 50 day moving average of C$276.88 and a 200-day moving average of C$267.87.

Insider Buying and Selling

In other news, Senior Officer Benoit Morissette sold 6,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. 0.24% of the stock is owned by corporate insiders.

About Intact Financial

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space.