Insider Selling: Intact Financial Co. (TSE:IFC) Senior Officer Sells C$1,611,000.00 in Stock

Intact Financial Co. (TSE:IFC) Senior Officer Charles Brindamour sold 6,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of C$268.50, for a total transaction of C$1,611,000.00.

Intact Financial Stock Performance

Shares of Intact Financial stock opened at C$266.67 on Friday. The company has a 50 day moving average of C$265.17 and a 200-day moving average of C$248.15. The company has a market cap of C$47.56 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26. Intact Financial Co. has a 1-year low of C$197.82 and a 1-year high of C$275.00.

Intact Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Monday, December 16th. Intact Financial’s dividend payout ratio is presently 42.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IFC. National Bankshares boosted their price objective on Intact Financial from C$294.00 to C$296.00 in a report on Wednesday, November 6th. Scotiabank increased their price objective on Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. BMO Capital Markets upped their price target on shares of Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Jefferies Financial Group cut their price objective on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Finally, Raymond James raised their target price on shares of Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$274.90.

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.