Intact Financial (TSE:IFC) Hits New 1-Year High - Here's Why

Intact Financial Co. (TSE:IFC - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$271.86 and last traded at C$267.18, with a volume of 92071 shares traded. The stock had previously closed at C$270.87.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IFC. Raymond James reduced their target price on shares of Intact Financial from C$269.00 to C$264.00 in a research report on Thursday, October 10th. CIBC raised their target price on shares of Intact Financial from C$250.00 to C$270.00 and gave the stock an "outperform" rating in a research report on Thursday, August 1st. Scotiabank reduced their target price on shares of Intact Financial from C$272.00 to C$263.00 and set an "outperform" rating on the stock in a research report on Thursday, August 22nd. National Bankshares raised their target price on shares of Intact Financial from C$260.00 to C$265.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Finally, Cormark raised their target price on shares of 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 issued a buy rating to the company. According to MarketBeat.com, Intact Financial has an average rating of "Moderate Buy" and an average target price of C$263.90.

Intact Financial Trading Down 1.2 %

The stock has a market capitalization of C$47.72 billion, a P/E ratio of 23.55, a P/E/G ratio of 2.01 and a beta of 0.57. 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 stock's 50 day moving average price is C$256.20 and its 200-day moving average price is C$239.30.

Intact Financial (TSE:IFC - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported C$4.86 earnings per share for the quarter, beating the consensus estimate of C$3.61 by C$1.25. The company had revenue of C$7.07 billion during the quarter, compared to the consensus estimate of C$7.64 billion. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. As a group, equities research analysts expect that Intact Financial Co. will post 16.1721014 earnings per share for the current year.

Intact Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $1.21 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.84 annualized dividend and a yield of 1.81%. Intact Financial's dividend payout ratio (DPR) is 42.61%.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Darren Christopher Godfrey sold 2,000 shares of the firm'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 value of C$510,000.00. 0.24% of the stock is owned by insiders.

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.