Jefferies Financial Group Lowers Intact Financial (TSE:IFC) Price Target to C$241.00

Intact Financial (TSE:IFC) had its price objective trimmed by Jefferies Financial Group from C$242.00 to C$241.00 in a research note issued to investors on Monday, BayStreet.CA reports.

Several other equities analysts have also recently issued reports on IFC. Raymond James raised their price target on Intact Financial from C$247.00 to C$261.00 and gave the company an outperform rating in a report on Wednesday, May 8th. Scotiabank boosted their price target on Intact Financial from C$261.00 to C$264.00 in a research report on Thursday, May 9th. Royal Bank of Canada boosted their target price on Intact Financial from C$226.00 to C$243.00 and gave the stock a sector perform rating in a report on Wednesday, May 8th. TD Securities upped their target price on Intact Financial from C$250.00 to C$258.00 and gave the company a buy rating in a research report on Wednesday, May 8th. Finally, BMO Capital Markets upped their target price on Intact Financial from C$240.00 to C$250.00 in a report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Intact Financial has a consensus rating of Moderate Buy and an average price target of C$249.70.

Intact Financial Stock Performance

Shares of TSE IFC opened at C$240.87 on Monday. The business has a fifty day simple moving average of C$230.20 and a 200 day simple moving average of C$223.36. The company has a current ratio of 0.35, a quick ratio of 0.28 and a debt-to-equity ratio of 32.83. The firm has a market capitalization of C$42.95 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.01 and a beta of 0.53. Intact Financial has a one year low of C$188.22 and a one year high of C$244.30.

Intact Financial (TSE:IFC) last announced its quarterly earnings results on Tuesday, May 7th. The company reported C$3.63 earnings per share for the quarter, beating analysts’ consensus estimates of C$3.43 by C$0.20. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%. The firm had revenue of C$7.06 billion for the quarter, compared to analysts’ expectations of C$8.33 billion. Sell-side analysts expect that Intact Financial will post 14.6728435 EPS for the current year.

Intact Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $1.21 dividend. The ex-dividend date was Friday, June 14th. This represents a $4.84 annualized dividend and a yield of 2.01%. Intact Financial’s payout ratio is currently 56.21%.

Insiders Place Their Bets

In other Intact Financial news, Senior Officer Louis Marcotte sold 300 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total value of C$68,583.00. In related news, Senior Officer Frédéric Cotnoir sold 2,200 shares of Intact Financial stock in a transaction on Monday, June 3rd. The stock was sold at an average price of C$228.12, for a total transaction of C$501,861.80. Also, Senior Officer Louis Marcotte sold 300 shares of Intact Financial stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total value of C$68,583.00. Over the last quarter, insiders have sold 32,500 shares of company stock worth $7,377,706. 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.