Intact Financial (TSE:IFC) Reaches New 1-Year High - Here's What Happened

Key Points

• Intact Financial's stock reached a new 52-week high of C$24.22 during Wednesday's trading, with a closing price of C$266.58.
• Wall Street analysts have mixed projections for the company, with price targets ranging from C$324 to C$350 and an average rating of "Moderate Buy."
• The company, primarily involved in the **property and casualty insurance sector**, has a market capitalization of C$47.42 billion and a P/E ratio of 20.41.

Shares of Intact Financial Co. (TSE:IFC - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$24.22 and last traded at C$266.58, with a volume of 155443 shares trading hands. The stock had previously closed at C$264.63.

Wall Street Analysts Forecast Growth

IFC has been the topic of a number of research analyst reports. BMO Capital Markets boosted their price objective on shares of Intact Financial from C$330.00 to C$335.00 in a research report on Friday, July 11th. National Bankshares boosted their price objective on shares of 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. Royal Bank Of Canada lowered their price objective on shares of Intact Financial from C$329.00 to C$324.00 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. Finally, Scotiabank boosted their price objective on shares of Intact Financial from C$318.00 to C$325.00 in a research report on Wednesday, July 23rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Intact Financial presently has an average rating of "Moderate Buy" and an average target price of C$322.20.

Intact Financial Stock Up 0.5%

The company's 50-day simple moving average is C$282.42 and its 200 day simple moving average is C$293.09. The company has a market capitalization of C$47.42 billion, a P/E ratio of 20.41, a P/E/G ratio of 2.01 and a beta of 0.13.

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.

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