Intact Financial (TSE:IFC) Price Target Raised to C$258.00 at TD Securities

Intact Financial (TSE:IFC) had its price objective lifted by TD Securities from C$250.00 to C$258.00 in a report released on Wednesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued reports about the stock. Raymond James upped their price objective on shares of Intact Financial from C$247.00 to C$261.00 and gave the company an outperform rating in a report on Wednesday. National Bankshares upped their price target on shares of Intact Financial from C$245.00 to C$247.00 and gave the company an outperform rating in a research note on Tuesday, April 30th. CIBC lifted their price objective on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a research note on Thursday, February 15th. BMO Capital Markets increased their target price on Intact Financial from C$230.00 to C$240.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. Finally, Desjardins lifted their price target on Intact Financial from C$235.00 to C$238.00 and gave the company a buy rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Intact Financial has an average rating of Moderate Buy and a consensus target price of C$245.00.

Intact Financial Trading Up 1.3 %

TSE:IFC opened at C$232.46 on Wednesday. The firm’s 50 day moving average is C$223.38 and its 200 day moving average is C$213.29. Intact Financial has a 12 month low of C$188.22 and a 12 month high of C$237.25. The stock has a market capitalization of C$41.45 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. 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 (TSE:IFC) last issued its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.44 by C$0.03. The firm had revenue of C$6.53 billion for the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. Sell-side analysts expect that Intact Financial will post 14.526183 earnings per share for the current year.

Intact Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $1.21 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.08%. Intact Financial’s payout ratio is presently 69.14%.

Insiders Place Their Bets

In other news, Senior Officer Benoit Morissette sold 7,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. Corporate insiders own 0.23% of the company’s stock.

About Intact Financial

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.