Desjardins Raises Intact Financial (TSE:IFC) Price Target to C$238.00

Intact Financial (TSE:IFC) had its price objective upped by Desjardins from C$235.00 to C$238.00 in a research report released on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

Other analysts have also recently issued research reports about the company. BMO Capital Markets raised their target price on Intact Financial from C$230.00 to C$240.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. TD Securities raised their target price on Intact Financial from C$225.00 to C$235.00 and gave the stock a buy rating in a research report on Wednesday, February 14th. National Bankshares cut their price objective on Intact Financial from C$250.00 to C$245.00 and set an outperform rating for the company in a report on Thursday, February 15th. Scotiabank increased their price objective on Intact Financial from C$252.00 to C$256.00 and gave the stock an outperform rating in a report on Thursday, February 15th. Finally, Raymond James increased their price objective on Intact Financial from C$221.00 to C$247.00 in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of C$236.70.

Intact Financial Stock Performance

Shares of Intact Financial stock opened at C$221.82 on Tuesday. The stock has a market cap of C$39.55 billion, a PE ratio of 31.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. The business has a fifty day simple moving average of C$223.11 and a 200-day simple moving average of C$210.63. The company has a quick ratio of 0.28, a current ratio of 0.38 and a debt-to-equity ratio of 34.90. Intact Financial has a 12 month low of C$188.22 and a 12 month high of C$237.25.

Intact Financial (TSE:IFC) last issued its earnings results 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. The business had revenue of C$6.53 billion during the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. On average, sell-side analysts anticipate that Intact Financial will post 14.4651774 EPS for the current fiscal year.

Intact Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a dividend of $1.21 per share. This is a positive change from Intact Financial’s previous quarterly dividend of $1.10. This represents a $4.84 annualized dividend and a yield of 2.18%. The ex-dividend date was Thursday, March 14th. Intact Financial’s dividend payout ratio (DPR) is 69.24%.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total transaction of C$1,583,589.00. Corporate insiders own 0.23% of the company’s stock.

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.