Intact Financial Co. (TSE:IFC) Price Target Raised to C$98.00

Intact Financial Co. (TSE:IFC) had its target price increased by Desjardins from C$96.00 to C$98.00 in a research report report published on Wednesday, August 2nd. Desjardins also issued estimates for Intact Financial’s Q4 2017 earnings at $1.80 EPS and FY2017 earnings at $5.89 EPS.

A number of other equities research analysts have also recently issued reports on the company. Raymond James Financial, Inc. restated a market perform rating and set a C$98.00 price objective on shares of Intact Financial in a report on Thursday, April 6th. Barclays PLC restated an overweight rating and set a C$100.00 price objective on shares of Intact Financial in a report on Thursday, May 11th. Scotiabank restated an outperform rating and set a C$105.00 price objective on shares of Intact Financial in a report on Tuesday, July 4th. TD Securities cut their price target on Intact Financial from C$105.00 to C$97.00 and set a buy rating for the company in a research note on Friday, May 12th. Finally, Keefe, Bruyette & Woods began coverage on Intact Financial in a research note on Thursday, April 6th. They issued a market perform rating and a C$101.00 price target for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of C$102.20.

Intact Financial (IFC) traded up 0.34% during trading on Wednesday, reaching $98.37. The company’s stock had a trading volume of 319,720 shares. Intact Financial has a 52-week low of $90.00 and a 52-week high of $99.88. The firm’s 50-day moving average is $97.05 and its 200-day moving average is $94.95. The stock has a market cap of $12.88 billion and a P/E ratio of 19.35.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, September 14th. This is an increase from Intact Financial’s previous quarterly dividend of $0.53. This represents a $2.56 annualized dividend and a dividend yield of 2.60%.

In related news, insider Lucie Martel purchased 3,215 shares of the stock in a transaction dated Friday, May 26th. The stock was bought at an average cost of C$93.42 per share, for a total transaction of C$300,345.30.

About Intact Financial

Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada. It primarily underwrites automobile, home, and commercial property and casualty insurance contracts. The company distributes its services through a network of independent insurance brokers, as well as sells directly to consumers through call centers and the Internet.

Analyst Recommendations for Intact Financial (TSE:IFC)

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