Intact Financial (TSE:IFC) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$257.34 and traded as high as C$259.98. Intact Financial shares last traded at C$259.84, with a volume of 201,647 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on IFC shares. TD Securities raised their price objective on shares of Intact Financial from C$293.00 to C$300.00 in a research note on Wednesday, November 6th. Scotiabank raised their price objective on shares of Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. Raymond James raised their price objective on shares of Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday, November 6th. BMO Capital Markets raised their price objective on shares of Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Finally, National Bankshares raised their price objective on shares of Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$274.90.

Intact Financial Trading Down 0.3 %

The company has a debt-to-equity ratio of 31.26, a quick ratio of 0.28 and a current ratio of 0.36. The business has a fifty day simple moving average of C$262.98 and a 200 day simple moving average of C$257.56. The stock has a market capitalization of C$46.20 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Intact Financial (TSE:IFC) last released its earnings results on Tuesday, November 5th. The company reported C$1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.29 by C$0.72. Intact Financial had a return on equity of 12.93% and a net margin of 7.14%. During the same quarter last year, the company posted $2.10 EPS. As a group, research analysts expect that Intact Financial Co. will post 16.1721014 EPS for the current year.

Intact Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $1.21 per share. The ex-dividend date was Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.87%. Intact Financial’s dividend payout ratio (DPR) is 42.61%.

Insider Buying and Selling

In other news, Senior Officer Marie-Lucie Paradis sold 565 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$266.23, for a total transaction of C$150,419.95. Also, Senior Officer Darren Christopher Godfrey sold 1,850 shares of Intact Financial stock in a transaction dated Friday, December 6th. The shares were sold at an average price of C$272.50, for a total value of C$504,125.00. Insiders sold 8,865 shares of company stock valued at $2,385,573 over the last 90 days. Company insiders own 0.24% 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.