Intact Financial Co. (TSE:IFC) Receives C$264.40 Average Price Target from Brokerages

Shares of Intact Financial Co. (TSE:IFC) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is C$264.40.

Several brokerages recently weighed in on IFC. CIBC increased their target price on 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. BMO Capital Markets boosted their target price on Intact Financial from C$250.00 to C$275.00 in a report on Thursday, August 1st. TD Securities raised their price target on shares of Intact Financial from C$270.00 to C$282.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group reduced their price target on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a research report on Thursday, August 22nd. Finally, Cormark increased their price objective 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.

Intact Financial Stock Performance

Intact Financial has a twelve month low of C$188.27 and a twelve month high of C$263.74. The firm has a market cap of C$45.03 billion, a P/E ratio of 22.45, a PEG ratio of 2.01 and a beta of 0.57. The company has a fifty day simple moving average of C$247.75 and a two-hundred day simple moving average of C$233.11. The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28.

Intact Financial (TSE:IFC) last issued its quarterly earnings results on Tuesday, July 30th. The company reported C$4.86 EPS for the quarter, topping the consensus estimate of C$3.61 by C$1.25. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. The firm had revenue of C$7.07 billion during the quarter, compared to analyst estimates of C$7.64 billion. As a group, equities research analysts forecast that Intact Financial will post 15.9993679 earnings per share for the current fiscal year.

Intact Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $1.21 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.84 dividend on an annualized basis and a yield of ∞. Intact Financial’s payout ratio is currently 42.68%.

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.