Intact Financial (TSE:IFC) Price Target Lowered to C$229.00 at Royal Bank of Canada

Intact Financial (TSE:IFC – Get Rating) had its target price cut by Royal Bank of Canada from C$232.00 to C$229.00 in a research note released on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

IFC has been the topic of a number of other research reports. Cormark decreased their target price on shares of Intact Financial from C$211.00 to C$207.00 in a research report on Wednesday, February 8th. Raymond James upped their price target on Intact Financial from C$229.00 to C$233.00 and gave the company an outperform rating in a report on Wednesday, February 8th. Barclays lowered their price target on Intact Financial from C$235.00 to C$220.00 in a report on Friday, April 28th. Scotiabank upped their price target on Intact Financial from C$220.00 to C$225.00 in a report on Friday, April 28th. Finally, National Bankshares upped their price target on Intact Financial from C$240.00 to C$242.00 in a report on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of C$223.33.

Intact Financial Trading Down 0.1 %

Shares of IFC stock opened at C$200.91 on Tuesday. The company’s 50-day moving average price is C$196.88 and its 200-day moving average price is C$197.68. The company has a current ratio of 0.68, a quick ratio of 0.28 and a debt-to-equity ratio of 32.89. The stock has a market cap of C$35.21 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 2.01 and a beta of 0.57. Intact Financial has a twelve month low of C$172.04 and a twelve month high of C$209.57.

Intact Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Wednesday, June 14th. Intact Financial’s payout ratio is currently 29.74%.

Insider Buying and Selling

In related news, Senior Officer Charles Brindamour sold 30,000 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of C$195.00, for a total transaction of C$5,850,000.00. Corporate insiders own 0.24% of the company’s stock.

About Intact Financial

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Intact Financial Corporation, through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, Ireland, rest of Europe, and the Middle East. It offers personal auto insurance; insurance for motor homes, recreational vehicles, motorcycles, snowmobiles, and all-terrain vehicles; personal property insurance, such as protection for homes and contents from risks, including fire, theft, vandalism, water damage, and other damages, as well as personal liability coverage; and property coverage for tenants, condominium owners, non-owner occupied residences, and seasonal residences.