Intact Financial (TSE:IFC) PT Raised to C$261.00 at Scotiabank

Intact Financial (TSE:IFC - Free Report) had its price target upped by Scotiabank from C$256.00 to C$261.00 in a report released on Friday morning, BayStreet.CA reports.

A number of other brokerages have also recently issued reports on IFC. CIBC lifted their price objective on shares of Intact Financial from C$225.00 to C$250.00 and gave the company an outperform rating in a research note on Thursday, February 15th. National Bankshares cut their target price on shares of Intact Financial from C$250.00 to C$245.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Desjardins raised their target price on shares of Intact Financial from C$235.00 to C$238.00 and gave the company a buy rating in a research report on Tuesday, April 16th. TD Securities raised their target price on shares of Intact Financial from C$225.00 to C$235.00 and gave the company a buy rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada raised their target price on shares of Intact Financial from C$228.00 to C$229.00 and gave the company a sector perform rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of C$237.20.

Intact Financial Stock Up 1.5 %

Shares of Intact Financial stock traded up C$3.25 during trading hours on Friday, reaching C$224.31. 330,875 shares of the company's stock were exchanged, compared to its average volume of 297,694. The company has a 50 day moving average of C$223.69 and a two-hundred day moving average of C$211.46. Intact Financial has a fifty-two week low of C$188.22 and a fifty-two week high of C$237.25. The company has a current ratio of 0.38, a quick ratio of 0.28 and a debt-to-equity ratio of 34.90. The stock has a market cap of C$40.00 billion, a P/E ratio of 32.09, a P/E/G ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of C$3.44 by C$0.03. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. The business had revenue of C$6.53 billion during the quarter. On average, sell-side analysts forecast that Intact Financial will post 14.4651774 EPS for the current fiscal year.

Intact Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, March 14th. This is a positive change from Intact Financial's previous quarterly dividend of $1.10. Intact Financial's dividend payout ratio (DPR) is 69.24%.

Insiders Place Their Bets

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the firm's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. Insiders own 0.23% of the company's stock.

Intact Financial Company Profile

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally. The company offers insurance, such as personal auto which provides coverage from accidents, third party liability, and physical damage; personal property which provides protection for homes and contents from risks, including fire, theft, vandalism, water damages, other damages, and personal liability; and commercial line and specialty line insurance which provides commercial auto, property, and liability coverages.