Intact Financial (TSE:IFC) Share Price Crosses Above 200-Day Moving Average - Here's Why

Intact Financial Co. (TSE:IFC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$245.78 and traded as high as C$268.87. Intact Financial shares last traded at C$268.34, with a volume of 299,314 shares.

Analyst Ratings Changes

A number of brokerages have weighed in on IFC. Jefferies Financial Group reduced their price target on Intact Financial from C$264.00 to C$262.00 and set a "hold" rating for the company in a research report on Thursday, August 22nd. CIBC upped their price objective on Intact Financial from C$250.00 to C$270.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. Scotiabank increased their price target on Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. Raymond James increased their price target on Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday, November 6th. Finally, Cormark increased their price target on Intact Financial from C$250.00 to C$260.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Intact Financial currently has an average rating of "Moderate Buy" and an average price target of C$274.90.

Intact Financial Price Performance

The company has a market cap of C$47.99 billion, a P/E ratio of 23.62, a PEG ratio of 2.01 and a beta of 0.57. The company has a fifty day moving average price of C$262.36 and a two-hundred day moving average price of C$245.78. The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36.

Intact Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, December 16th. Intact Financial's payout ratio is currently 42.61%.

Insider Buying and Selling

In other Intact Financial news, Senior Officer Marie-Lucie Paradis sold 565 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of C$266.23, for a total transaction of C$150,419.95. Also, Senior Officer Darren Christopher Godfrey sold 2,000 shares of the business's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of C$255.00, for a total transaction of C$510,000.00. Over the last 90 days, insiders sold 4,565 shares of company stock worth $1,168,179. Company insiders own 0.24% of the company's stock.

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.