BMO Capital Markets Boosts Intact Financial (TSE:IFC) Price Target to C$290.00

Intact Financial (TSE:IFC) had its price objective upped by BMO Capital Markets from C$275.00 to C$290.00 in a research note released on Thursday morning,BayStreet.CA reports.

A number of other brokerages have also weighed in on IFC. Desjardins upped their price objective on Intact Financial from C$250.00 to C$255.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Cormark upped their price objective on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Raymond James upped their price objective on Intact Financial from C$264.00 to C$290.00 in a report on Wednesday. Jefferies Financial Group dropped their price objective on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a report on Thursday, August 22nd. Finally, National Bankshares upped their price objective on Intact Financial from C$294.00 to C$296.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Price Performance

Intact Financial stock opened at C$266.23 on Thursday. Intact Financial has a 12 month low of C$197.82 and a 12 month high of C$273.05. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. The business has a 50 day simple moving average of C$260.44 and a 200-day simple moving average of C$243.63. The stock has a market capitalization of C$47.48 billion, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $1.21 dividend. This represents a $4.84 annualized dividend and a yield of 1.82%. The ex-dividend date is Monday, December 16th. Intact Financial’s dividend payout ratio (DPR) is 42.61%.

Insider Buying and Selling at Intact Financial

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

About Intact Financial

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.