Intact Financial Co. (TSE:IFC – Get Rating) – Equities researchers at National Bank Financial upped their Q2 2023 earnings per share (EPS) estimates for shares of Intact Financial in a research report issued on Monday, May 22nd. National Bank Financial analyst J. Gloyn now anticipates that the company will earn $3.17 per share for the quarter, up from their prior forecast of $3.03. The consensus estimate for Intact Financial’s current full-year earnings is $13.11 per share. National Bank Financial also issued estimates for Intact Financial’s Q3 2023 earnings at $3.22 EPS, Q4 2023 earnings at $3.67 EPS, FY2023 earnings at $13.12 EPS and FY2024 earnings at $13.74 EPS.
Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reduced their price objective on shares of Intact Financial from C$232.00 to C$229.00 and set an “outperform” rating for the company in a research note on Tuesday, May 16th. Raymond James raised their price objective on Intact Financial from C$229.00 to C$233.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Barclays reduced their target price on Intact Financial from C$235.00 to C$220.00 in a research report on Friday, April 28th. Cormark dropped their price target on Intact Financial from C$211.00 to C$207.00 in a research note on Wednesday, February 8th. Finally, Scotiabank increased their price objective on shares of Intact Financial from C$220.00 to C$225.00 in a research report on Friday, April 28th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$223.33.
Intact Financial Stock Performance
Intact Financial Announces Dividend
The firm 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 2.18%. The ex-dividend date of this dividend is Wednesday, June 14th. Intact Financial’s dividend payout ratio (DPR) is currently 34.19%.
Insider Transactions at Intact Financial
In other Intact Financial news, Senior Officer Charles Brindamour sold 30,000 shares of Intact Financial stock in a transaction dated 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. Company insiders own 0.24% of the company’s stock.
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, 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.
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