Intact Financial (TSE:IFC) Sets New 1-Year High - Here's Why

Intact Financial Co. (TSE:IFC - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$307.23 and last traded at C$307.00, with a volume of 39326 shares. The stock had previously closed at C$305.47.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IFC. TD Securities increased their price target on Intact Financial from C$328.00 to C$349.00 and gave the company a "buy" rating in a research note on Wednesday. CIBC lifted their target price on Intact Financial from C$290.00 to C$300.00 in a report on Friday, April 25th. Cibc World Mkts cut shares of Intact Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Jefferies Financial Group raised their price objective on shares of Intact Financial from C$201.00 to C$289.00 in a research report on Monday, April 21st. Finally, Desjardins boosted their target price on shares of Intact Financial from C$320.00 to C$330.00 and gave the stock a "buy" rating in a report on Thursday. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$310.90.

Intact Financial Trading Down 1.3 %

The company's 50-day moving average is C$290.20 and its 200 day moving average is C$275.42. The firm has a market cap of C$53.02 billion, a PE ratio of 23.08, a P/E/G ratio of 2.01 and a beta of 0.57.

Insider Activity

In other news, Senior Officer Benoit Morissette sold 6,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total value of C$1,722,738.00. Corporate insiders own 0.24% of the company's stock.

Intact Financial Company Profile

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company's direct premiums are written in the personal automotive space.