Intact Financial (TSE:IFC) Reaches New 52-Week High on Analyst Upgrade

Intact Financial Co. (TSE:IFC - Get Free Report)'s share price reached a new 52-week high on Wednesday after Desjardins raised their price target on the stock from C$295.00 to C$315.00. Desjardins currently has a buy rating on the stock. Intact Financial traded as high as C$287.82 and last traded at C$284.00, with a volume of 13646 shares traded. The stock had previously closed at C$276.23.

Other research analysts also recently issued reports about the stock. Cibc World Mkts downgraded shares of Intact Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Jefferies Financial Group boosted their target price on shares of Intact Financial from C$284.00 to C$301.00 in a research report on Thursday. National Bankshares boosted their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. CIBC boosted their target price on shares of Intact Financial from C$280.00 to C$290.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Intact Financial from C$290.00 to C$315.00 in a research report on Thursday. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$292.90.

Insider Buying and Selling at Intact Financial

In related news, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total transaction of C$1,722,738.00. Also, Senior Officer Frédéric Cotnoir sold 450 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of C$266.73, for a total transaction of C$120,028.50. Insiders have sold 14,300 shares of company stock valued at $3,957,892 in the last 90 days. 0.24% of the stock is currently owned by company insiders.

Intact Financial Stock Performance

The stock has a market cap of C$51.27 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.01 and a beta of 0.57. The firm's 50-day simple moving average is C$263.23 and its two-hundred day simple moving average is C$260.77.

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.