Intact Financial (TSE:IFC) Hits New 12-Month High - Here's What Happened

Intact Financial Co. (TSE:IFC - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as C$25.24 and last traded at C$311.76, with a volume of 36070 shares traded. The stock had previously closed at C$310.82.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Desjardins upped their price target on shares of Intact Financial from C$320.00 to C$330.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Jefferies Financial Group upped their price objective on shares of Intact Financial from C$201.00 to C$289.00 in a research note on Monday, April 21st. BMO Capital Markets lifted their target price on shares of Intact Financial from C$330.00 to C$335.00 in a research note on Friday. Scotiabank upped their target price on shares of Intact Financial from C$298.00 to C$305.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, CIBC boosted their target price on shares of Intact Financial from C$290.00 to C$300.00 in a research note on Friday, April 25th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Intact Financial currently has an average rating of "Moderate Buy" and an average target price of C$314.36.

Intact Financial Trading Up 0.1%

The stock's 50-day moving average is C$307.00 and its 200-day moving average is C$287.48. The company has a market cap of C$55.03 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 2.01 and a beta of 0.57.

Insiders Place Their Bets

In other news, Director Timothy Michael Miller sold 13,028 shares of Intact Financial stock in a transaction dated 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 currently owned by company insiders.

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.