Intact Financial (TSE:IFC) Reaches New 12-Month High After Dividend Announcement

Intact Financial Co. (TSE:IFC)’s stock price reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as C$271.93 and last traded at C$271.93, with a volume of 26029 shares changing hands. The stock had previously closed at C$269.61.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $1.21 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a yield of 1.83%. Intact Financial’s dividend payout ratio is presently 42.61%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Securities upped their target price on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday. National Bankshares upped their price objective on shares of Intact Financial from C$294.00 to C$296.00 in a report on Wednesday. Raymond James lifted their target price on shares of Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday. Scotiabank upped their price target on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday. Finally, CIBC lifted their price objective 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. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Price Performance

The stock has a 50 day moving average price of C$259.90 and a 200-day moving average price of C$243.33. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. The stock has a market capitalization of C$47.08 billion, a price-to-earnings ratio of 23.24, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Insider Buying and Selling at Intact Financial

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