Intact Financial (TSE:IFC) Reaches New 12-Month High – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s share price hit a new 52-week high during trading on Monday . The company traded as high as C$24.27 and last traded at C$284.91, with a volume of 74361 shares traded. The stock had previously closed at C$285.05.

Analysts Set New Price Targets

Several brokerages have issued reports on IFC. CIBC upped their target price on Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Scotiabank upped their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a report on Thursday, November 7th. TD Securities lifted their target price on shares of Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. National Bankshares upped their price target on Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Finally, Raymond James increased their price objective on shares of Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$292.64.

Intact Financial Price Performance

The company’s 50 day simple moving average is C$266.89 and its 200 day simple moving average is C$263.43. The firm has a market cap of C$50.72 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.01 and a beta of 0.57.

Insider Buying and Selling

In related news, Senior Officer Benoit Morissette sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total value of C$1,722,738.00. Also, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of C$272.50, for a total transaction of C$504,125.00. 0.24% of the stock is currently owned by insiders.

Intact Financial Company Profile

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.