Intact Financial (TSE:IFC) Hits New 1-Year High Following Analyst Upgrade

Intact Financial Co. (TSE:IFC) shares hit a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from C$275.00 to C$290.00. The stock traded as high as C$24.74 and last traded at C$289.45, with a volume of 478979 shares changing hands. The stock had previously closed at C$288.21.

Other research analysts have also recently issued research reports about the stock. Cibc World Mkts cut shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 29th. TD Securities boosted their target price on shares of Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their price target on Intact Financial from C$284.00 to C$301.00 in a research note on Thursday, February 13th. BMO Capital Markets upped their price objective on Intact Financial from C$290.00 to C$315.00 in a research report on Thursday, February 13th. Finally, National Bankshares increased their price objective on Intact Financial from C$294.00 to C$296.00 in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$292.64.

Insiders Place Their Bets

In other news, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial stock in a transaction dated Friday, November 29th. The shares were sold at an average price of C$266.73, for a total value of C$120,028.50. Also, Senior Officer Benoit Morissette sold 6,000 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Insiders have sold a total of 14,300 shares of company stock valued at $3,957,892 over the last quarter. Company insiders own 0.24% of the company’s stock.

Intact Financial Price Performance

The company has a 50-day simple moving average of C$263.50 and a 200-day simple moving average of C$261.20. The stock has a market cap of C$51.49 billion, a PE ratio of 22.41, a PEG ratio of 2.01 and a beta of 0.57.

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.