Intact Financial (TSE:IFC) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Intact Financial achieved a new 12-month high after National Bankshares increased their price target from C$341.00 to C$350.00, maintaining an outperform rating.
• Scotiabank and TD Securities also raised their target prices for the stock, with average analyst ratings suggesting a Moderate Buy and a consensus price target of C$317.00.
• Insider trading was noted, with Director Timothy Michael Miller selling 13,028 shares for approximately C$4 million in June.

Intact Financial Co. (TSE:IFC - Get Free Report)'s stock price reached a new 52-week high on Tuesday after National Bankshares raised their price target on the stock from C$341.00 to C$350.00. National Bankshares currently has an outperform rating on the stock. Intact Financial traded as high as C$24.50 and last traded at C$304.88, with a volume of 108538 shares. The stock had previously closed at C$302.12.

Several other equities research analysts also recently weighed in on IFC. CIBC upped their target price on shares of Intact Financial from C$290.00 to C$300.00 in a research note on Friday, April 25th. Desjardins boosted their price target on shares of Intact Financial from C$320.00 to C$330.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. TD Securities increased their price objective on Intact Financial from C$328.00 to C$349.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial lifted their target price on Intact Financial from C$302.00 to C$330.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Scotiabank upped their price target on Intact Financial from C$318.00 to C$325.00 in a report on Wednesday, July 23rd. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$322.20.

Insider Activity at Intact Financial

In other Intact Financial news, Director Timothy Michael Miller sold 13,028 shares of the firm'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. Insiders own 0.24% of the company's stock.

Intact Financial Stock Performance

The firm has a market capitalization of C$50.35 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.01 and a beta of 0.57. The company has a 50-day moving average price of C$306.93 and a 200-day moving average price of C$291.93.

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.