Desjardins Comments on Intact Financial Co.’s Q1 2024 Earnings (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Desjardins upped their Q1 2024 earnings per share estimates for shares of Intact Financial in a report released on Monday, April 15th. Desjardins analyst D. Young now expects that the company will post earnings per share of $3.50 for the quarter, up from their previous estimate of $3.30. Desjardins has a “Buy” rating and a $238.00 price target on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $14.47 per share. Desjardins also issued estimates for Intact Financial’s FY2024 earnings at $14.65 EPS.

Several other equities research analysts also recently commented on IFC. CIBC lifted their price objective on Intact Financial from C$225.00 to C$250.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Raymond James boosted their price target on Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. TD Securities boosted their price target on Intact Financial from C$225.00 to C$235.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. National Bankshares cut their price target on Intact Financial from C$250.00 to C$245.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, Royal Bank of Canada boosted their price target on Intact Financial from C$228.00 to C$229.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$236.70.

Intact Financial Price Performance

TSE IFC opened at C$219.67 on Tuesday. Intact Financial has a one year low of C$188.22 and a one year high of C$237.25. The stock has a 50-day moving average of C$222.85 and a 200 day moving average of C$210.56. The company has a market capitalization of C$39.17 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.01 and a beta of 0.54. The company has a debt-to-equity ratio of 34.90, a quick ratio of 0.28 and a current ratio of 0.38.

Intact Financial (TSE:IFC) last released its quarterly earnings data on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, topping the consensus estimate of C$3.44 by C$0.03. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. The company had revenue of C$6.53 billion during the quarter.

Insider Activity at Intact Financial

In related news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total value of C$1,583,589.00. 0.23% of the stock is currently owned by corporate insiders.

Intact Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $1.21 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 dividend on an annualized basis and a dividend yield of 2.20%. Intact Financial’s payout ratio is 69.24%.

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.