National Bankshares Forecasts Strong Price Appreciation for Intact Financial (TSE:IFC) Stock

Intact Financial (TSE:IFC) had its price objective increased by National Bankshares from C$294.00 to C$296.00 in a research report sent to investors on Wednesday,BayStreet.CA reports.

A number of other brokerages also recently issued reports on IFC. TD Securities lifted their price target on Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday. Jefferies Financial Group dropped their price target on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a research report on Thursday, August 22nd. BMO Capital Markets lifted their price target on Intact Financial from C$250.00 to C$275.00 in a research report on Thursday, August 1st. Raymond James lifted their price target on Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday. Finally, Cormark raised their price objective on Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Stock Performance

Shares of IFC opened at C$266.23 on Wednesday. The company has a market cap of C$47.48 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. 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 stock has a 50-day moving average price of C$260.44 and a 200-day moving average price of C$243.63. Intact Financial has a 12-month low of C$197.82 and a 12-month high of C$273.05.

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 paid a $1.21 dividend. This represents a $4.84 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Monday, December 16th. Intact Financial’s payout ratio is 42.61%.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were 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 corporate insiders.

Intact Financial Company Profile

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.