Scotiabank Increases Intact Financial (TSE:IFC) Price Target to C$261.00

Intact Financial (TSE:IFC) had its price target lifted by Scotiabank from C$256.00 to C$261.00 in a research report report published on Friday morning, BayStreet.CA reports.

Other equities analysts also recently issued reports about the stock. TD Securities increased their target price on shares of Intact Financial from C$225.00 to C$235.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. Desjardins increased their price objective on Intact Financial from C$235.00 to C$238.00 and gave the company a buy rating in a report on Tuesday, April 16th. Raymond James raised their price objective on Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. National Bankshares decreased their target price on Intact Financial from C$250.00 to C$245.00 and set an outperform rating for the company in a research report on Thursday, February 15th. Finally, CIBC lifted their price target on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a research report on Thursday, February 15th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of C$237.20.

Intact Financial Trading Up 1.5 %

Shares of TSE IFC opened at C$224.31 on Friday. The business has a 50 day simple moving average of C$223.61 and a 200 day simple moving average of C$211.64. Intact Financial has a 52 week low of C$188.22 and a 52 week high of C$237.25. The stock has a market cap of C$40.00 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 34.90, a quick ratio of 0.28 and a current ratio of 0.38.

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

Intact Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $1.21 dividend. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, March 14th. Intact Financial’s payout ratio is currently 69.24%.

Insider Activity

In related news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were 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 owned by company 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.