Desjardins Increases Intact Financial (TSE:IFC) Price Target to C$238.00

Intact Financial (TSE:IFC) had its target price raised by Desjardins from C$235.00 to C$238.00 in a report published on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

A number of other equities research analysts also recently commented on IFC. National Bankshares reduced their target price on Intact Financial from C$250.00 to C$245.00 and set an outperform rating for the company in a report on Thursday, February 15th. BMO Capital Markets raised their target price on Intact Financial from C$230.00 to C$240.00 and gave the company an outperform rating in a report on Thursday, February 15th. CIBC raised their target price on Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a report on Thursday, February 15th. TD Securities lifted their price target on Intact Financial from C$225.00 to C$235.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. Finally, Raymond James lifted their price target on Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intact Financial currently has a consensus rating of Moderate Buy and an average price target of C$236.70.

Intact Financial Price Performance

Shares of TSE IFC opened at C$221.95 on Tuesday. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28. The stock has a fifty day moving average price of C$223.38 and a 200 day moving average price of C$210.82. Intact Financial has a 1-year low of C$188.22 and a 1-year high of C$237.25. The company has a market cap of C$39.58 billion, a PE ratio of 31.75, a P/E/G ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, beating analysts’ consensus estimates of C$3.44 by C$0.03. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The company had revenue of C$6.53 billion during the quarter. Sell-side analysts forecast that Intact Financial will post 14.4651774 EPS for the current year.

Intact Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Thursday, March 14th. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. Intact Financial’s dividend payout ratio (DPR) is currently 69.24%.

Insider Buying and Selling

In related news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. 0.23% of the stock is currently owned by company 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.