Intact Financial (TSE:IFC) Hits New 1-Year High – Here’s Why

Intact Financial Co. (TSE:IFC) shares hit a new 52-week high on Thursday . The company traded as high as C$276.26 and last traded at C$275.90, with a volume of 104665 shares trading hands. The stock had previously closed at C$270.50.

Wall Street Analysts Forecast Growth

IFC has been the subject of several research analyst reports. BMO Capital Markets lifted their price objective on Intact Financial from C$275.00 to C$290.00 in a report on Thursday, November 7th. TD Securities lifted their target price on shares of Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday, November 6th. Raymond James raised their price objective on Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. Scotiabank upped their price target on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. Finally, National Bankshares boosted their target price on Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Stock Up 0.6 %

The business’s fifty day moving average is C$261.77 and its two-hundred day moving average is C$259.35. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The company has a market cap of C$49.36 billion, a P/E ratio of 24.36, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last released its quarterly earnings data on Tuesday, November 5th. The company reported C$1.01 EPS for the quarter, topping the consensus estimate of C$0.29 by C$0.72. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. During the same quarter in the prior year, the company posted $2.10 EPS. Equities analysts predict that Intact Financial Co. will post 16.1721014 EPS for the current year.

Insider Activity at Intact Financial

In other news, Senior Officer Charles Brindamour sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$268.50, for a total transaction of C$1,611,000.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total transaction of C$120,028.50. Insiders sold 8,865 shares of company stock worth $2,385,573 over the last three months. 0.24% 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.