Royal Bank Of Canada Lowers Intact Financial (TSE:IFC) Price Target to C$324.00

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 reduced by equities researchers at Royal Bank Of Canada from C$329.00 to C$324.00 in a report issued 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 14.46% from the company's previous close.

Other research analysts also recently issued research reports about the company. CIBC upped their target price on Intact Financial from C$290.00 to C$300.00 in a report on Friday, April 25th. Desjardins upped their target price on Intact Financial from C$320.00 to C$330.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. 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. Raymond James Financial upped their target price on Intact Financial from C$302.00 to C$330.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets upped their price target on Intact Financial from C$330.00 to C$335.00 in a research note on Friday, July 11th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intact Financial has a consensus rating of "Moderate Buy" and an average target price of C$322.20.

Intact Financial Price Performance

TSE:IFC traded down C$3.33 during mid-day trading on Thursday, reaching C$283.07. 326,557 shares of the company's stock traded hands, compared to its average volume of 285,556. Intact Financial has a 12-month low of C$240.37 and a 12-month high of C$317.35. 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$292.46.

Insider Buying and Selling

In other Intact Financial news, Director Timothy Michael Miller sold 13,028 shares of Intact Financial 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. Corporate 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.