Intact Financial Co. (TSE:IFC) to Issue $1.21 Quarterly Dividend

Intact Financial Co. (TSE:IFC) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Monday, December 16th will be given a dividend of 1.21 per share on Tuesday, December 31st. This represents a $4.84 annualized dividend and a yield of 1.83%. The ex-dividend date is Monday, December 16th.

Intact Financial Price Performance

IFC stock opened at C$265.02 on Thursday. Intact Financial has a 52 week low of C$196.27 and a 52 week high of C$273.05. The company has a quick ratio of 0.28, a current ratio of 0.36 and a debt-to-equity ratio of 31.26. The company has a fifty day simple moving average of C$259.90 and a two-hundred day simple moving average of C$243.33. The firm has a market capitalization of C$47.27 billion, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Insider Buying and Selling

In related news, Senior Officer Kenneth Anderson sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of C$253.88, for a total value of C$507,759.00. 0.24% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

IFC has been the subject of several research reports. Cormark increased their price objective on shares of Intact Financial from C$250.00 to C$260.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets increased their price objective on shares of Intact Financial from C$250.00 to C$275.00 in a research report on Thursday, August 1st. Jefferies Financial Group reduced their target price on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Desjardins increased their target price on shares of Intact Financial from C$250.00 to C$255.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, Raymond James increased their target price on shares of Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Intact Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$271.40.

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.