Intact Financial (TSE:IFC) Price Target Lowered to C$264.00 at Raymond James

Intact Financial (TSE:IFC) had its price target trimmed by Raymond James from C$269.00 to C$264.00 in a research note released on Thursday, BayStreet.CA reports.

A number of other brokerages have also recently commented on IFC. CIBC increased their price target on shares of Intact Financial from C$250.00 to C$270.00 and gave the company an outperform rating in a research note on Thursday, August 1st. Jefferies Financial Group decreased their target price on Intact Financial from C$264.00 to C$262.00 and set a hold rating on the stock in a report on Thursday, August 22nd. Cormark lifted their target price on shares of Intact Financial from C$250.00 to C$260.00 and gave the stock a buy rating in a report on Thursday, August 1st. BMO Capital Markets raised their price objective on shares of Intact Financial from C$250.00 to C$275.00 in a research report on Thursday, August 1st. Finally, Scotiabank decreased their target price on Intact Financial from C$272.00 to C$263.00 and set an outperform rating on the stock in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Intact Financial presently has an average rating of Moderate Buy and a consensus price target of C$263.90.

Intact Financial Stock Performance

Shares of Intact Financial stock opened at C$264.00 on Thursday. Intact Financial has a 12 month low of C$188.27 and a 12 month high of C$265.10. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. The company has a market capitalization of C$47.09 billion, a PE ratio of 23.26, a PEG ratio of 2.01 and a beta of 0.57. The stock’s fifty day simple moving average is C$253.72 and its 200 day simple moving average is C$237.28.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$4.86 earnings per share for the quarter, beating the consensus estimate of C$3.61 by C$1.25. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. The company had revenue of C$7.07 billion during the quarter, compared to analysts’ expectations of C$7.64 billion. On average, research analysts predict that Intact Financial will post 15.774665 EPS for the current year.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.21 dividend. This represents a $4.84 annualized dividend and a yield of 1.83%. The ex-dividend date was Friday, September 13th. Intact Financial’s dividend payout ratio is currently 42.64%.

Insider Transactions at Intact Financial

In other Intact Financial news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of Intact Financial stock in a transaction dated Monday, September 16th. The stock was sold at an average price of C$255.00, for a total value of C$510,000.00. 0.24% of the stock is currently owned by insiders.

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.