Intact Financial (TSE:IFC) Price Target Raised to C$283.00 at Scotiabank

by · The Markets Daily

Intact Financial (TSE:IFC – Free Report) had its price target boosted by Scotiabank from C$281.00 to C$283.00 in a report issued on Thursday morning,BayStreet.CA reports.

IFC has been the topic of a number of other reports. Raymond James upped their target price on shares of Intact Financial from C$264.00 to C$290.00 in a report on Wednesday. CIBC lifted their target price on shares of Intact Financial from C$250.00 to C$270.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Cormark increased their price target on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Desjardins lifted their price objective on Intact Financial from C$250.00 to C$255.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, TD Securities upped their target price on Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intact Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$274.90.

View Our Latest Stock Report on Intact Financial

Intact Financial Price Performance

Shares of TSE IFC traded up C$0.43 on Thursday, hitting C$264.40. The company’s stock had a trading volume of 48,553 shares, compared to its average volume of 286,054. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. Intact Financial has a 12-month low of C$197.82 and a 12-month high of C$273.05. The company has a market capitalization of C$47.16 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The stock has a 50 day moving average of C$259.90 and a 200-day moving average of C$243.33.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.21 per share. The ex-dividend date is Monday, December 16th. This represents a $4.84 annualized dividend and a yield of 1.83%. Intact Financial’s payout ratio is 42.61%.

Insider Activity

In other Intact Financial news, Senior Officer Kenneth Anderson sold 2,000 shares of Intact Financial stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of C$253.88, for a total value of C$507,759.00. Insiders own 0.24% of the company’s stock.

About Intact Financial

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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.

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