Intact Financial (TSE:IFC) Sets New 1-Year High on Analyst Upgrade

Shares of Intact Financial Co. (TSE:IFC - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday after UBS Group raised their price target on the stock from C$275.00 to C$290.00. The company traded as high as C$24.74 and last traded at C$289.45, with a volume of 478979 shares trading hands. The stock had previously closed at C$288.21.

A number of other brokerages have also issued reports on IFC. Desjardins boosted their price target on Intact Financial from C$295.00 to C$315.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. TD Securities lifted their price objective on Intact Financial from C$300.00 to C$324.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. BMO Capital Markets increased their target price on Intact Financial from C$290.00 to C$315.00 in a research note on Thursday, February 13th. Raymond James lifted their price target on shares of Intact Financial from C$290.00 to C$302.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, CIBC increased their price objective on shares of Intact Financial from C$280.00 to C$290.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$292.64.

Insider Activity

In other news, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of C$266.73, for a total transaction of C$120,028.50. Also, Senior Officer Benoit Morissette sold 6,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of C$287.12, for a total value of C$1,722,738.00. In the last three months, insiders sold 14,300 shares of company stock valued at $3,957,892. Company insiders own 0.24% of the company's stock.

Intact Financial Trading Up 0.1 %

The company has a market cap of C$49.35 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The stock has a 50-day simple moving average of C$264.40 and a 200-day simple moving average of C$261.93.

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.