Intact Financial (TSE:IFC) Hits New 52-Week High - Here's What Happened

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) reached 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 changing hands. The stock had previously closed at C$279.17.

Wall Street Analyst Weigh In

A number of research firms have commented on IFC. Raymond James Financial upped 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. Scotiabank upped their target price on Intact Financial from C$318.00 to C$325.00 in a report on Wednesday, July 23rd. National Bankshares upped their target price on Intact Financial from C$341.00 to C$350.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. BMO Capital Markets upped their target price on Intact Financial from C$330.00 to C$335.00 in a report on Friday, July 11th. Finally, Jefferies Financial Group upped their target price on Intact Financial from C$201.00 to C$289.00 in a report on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and five have assigned 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$322.20.

Intact Financial Trading Up 0.2%

The company has a market cap of C$49.74 billion, a PE ratio of 21.65, a P/E/G ratio of 2.01 and a beta of 0.57. The firm has a 50 day moving average of C$301.11 and a two-hundred day moving average of C$294.19.

Insider Buying and Selling at Intact Financial

In related news, Director Timothy Michael Miller sold 13,028 shares of the company's stock in a transaction that occurred 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 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.

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