Intact Financial (TSE:IFC) Reaches New 52-Week High - Should You Buy?

Key Points

• Intact Financial (TSE:IFC) recently reached a new 52-week high of C$279.60, reflecting strong trading interest with 479,444 shares exchanged.
• Several analysts have raised their target prices for Intact Financial, with Raymond James increasing its target from C$302.00 to C$330.00, and the average target price now stands at C$322.20.
• Insider trading was noted, as Director Timothy Michael Miller sold 13,028 shares for a total value of over C$4 million at an average price of C$309.88.

Intact Financial Co. (TSE:IFC - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as C$24.60 and last traded at C$279.60, with a volume of 479444 shares traded. The stock had previously closed at C$279.17.

Wall Street Analysts Forecast Growth

IFC has been the topic of a number of research reports. Scotiabank upped their target price on Intact Financial from C$318.00 to C$325.00 in a research report on Wednesday, July 23rd. CIBC upped their target price on Intact Financial from C$290.00 to C$300.00 in a research report on Friday, April 25th. Desjardins increased their price target on Intact Financial from C$320.00 to C$330.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Raymond James Financial increased their price target on Intact Financial from C$302.00 to C$330.00 and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Finally, National Bankshares increased their price target on Intact Financial from C$341.00 to C$350.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Intact Financial has an average rating of "Moderate Buy" and an average price target of C$322.20.

Intact Financial Stock Performance

The stock has a market cap of C$49.72 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.01 and a beta of 0.57. The business has a 50 day simple moving average of C$298.31 and a 200-day simple moving average of C$294.56.

Insider Transactions at Intact Financial

In other Intact Financial news, Director Timothy Michael Miller sold 13,028 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of C$309.88, for a total value of C$4,037,064.53. 0.24% of the stock is owned by company insiders.

About Intact Financial

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.