Royal Bank Of Canada Has Lowered Expectations for Intact Financial (TSE:IFC) Stock Price

Key Points

• Royal Bank Of Canada has lowered its target price for Intact Financial from C$329.00 to C$324.00, indicating a potential upside of 12.65% from the current price.
• Other brokerages have given varied ratings, with Desjardins raising their target price to C$330.00 and BMO Capital Markets to C$335.00, while the consensus rating for the stock is a "Moderate Buy."
• Intact Financial's shares are currently trading at C$287.61, with a market capitalization of C$51.16 billion and a PE ratio of 22.27.

Intact Financial (TSE:IFC - Get Free Report) had its target price dropped by research analysts at Royal Bank Of Canada from C$329.00 to C$324.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price suggests a potential upside of 12.65% from the stock's current price.

A number of other brokerages have also issued reports on IFC. Desjardins lifted their target price on Intact Financial from C$320.00 to C$330.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. BMO Capital Markets boosted their price objective on Intact Financial from C$330.00 to C$335.00 in a report on Friday, July 11th. TD Securities boosted their price objective on Intact Financial from C$328.00 to C$349.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James Financial boosted their price objective 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, Jefferies Financial Group boosted their price objective on Intact Financial from C$201.00 to C$289.00 in a report on Monday, April 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$316.55.

Intact Financial Stock Performance

Shares of TSE IFC traded up C$2.16 during midday trading on Thursday, reaching C$287.61. 245,517 shares of the company's stock were exchanged, compared to its average volume of 283,396. Intact Financial has a 52-week low of C$240.37 and a 52-week high of C$317.35. The stock has a market capitalization of C$51.16 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The business's fifty day moving average price is C$307.66 and its two-hundred day moving average price is C$291.47.

Insider Activity at Intact Financial

In related news, Director Timothy Michael Miller sold 13,028 shares of the 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. Company insiders own 0.24% of the company's stock.

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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