Intact Financial (TSE:IFC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$288.91 and traded as high as C$306.54. Intact Financial shares last traded at C$299.41, with a volume of 319,548 shares changing hands.

Analysts Set New Price Targets

IFC has been the topic of several research analyst reports. Desjardins increased their price target on shares of Intact Financial from C$320.00 to C$330.00 and gave the company a “buy” rating in a report on Thursday, May 8th. CIBC raised their target price on shares of Intact Financial from C$290.00 to C$300.00 in a research report on Friday, April 25th. Jefferies Financial Group lifted their target price on shares of Intact Financial from C$201.00 to C$289.00 in a research note on Monday, April 21st. Scotiabank lifted their price target on shares of Intact Financial from C$298.00 to C$305.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, National Bankshares boosted their price target on shares of Intact Financial from C$336.00 to C$341.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$314.36.

Intact Financial Stock Down 1.3%

The firm has a market cap of C$53.26 billion, a PE ratio of 23.18, a P/E/G ratio of 2.01 and a beta of 0.57. The firm’s fifty day simple moving average is C$306.82 and its two-hundred day simple moving average is C$288.91.

Insider Transactions at Intact Financial

In other Intact Financial news, Director Timothy Michael Miller sold 13,028 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of C$309.88, for a total transaction of C$4,037,064.53. 0.24% of the stock is currently owned by 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.