Intact Financial (TSE:IFC) Price Target Increased to C$238.00 by Analysts at Desjardins

Intact Financial (TSE:IFC) had its target price raised by Desjardins from C$235.00 to C$238.00 in a report released on Tuesday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the stock. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

Other research analysts have also issued reports about the stock. Scotiabank raised their price target on shares of Intact Financial from C$252.00 to C$256.00 and gave the company an outperform rating in a research report on Thursday, February 15th. National Bankshares dropped their price target on shares of Intact Financial from C$250.00 to C$245.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Raymond James lifted their price objective on shares of Intact Financial from C$221.00 to C$247.00 in a research report on Wednesday, February 14th. Royal Bank of Canada lifted their price objective on shares of Intact Financial from C$228.00 to C$229.00 and gave the stock a sector perform rating in a research report on Wednesday, February 14th. Finally, BMO Capital Markets lifted their price objective on shares of Intact Financial from C$230.00 to C$240.00 and gave the stock an outperform rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Intact Financial presently has a consensus rating of Moderate Buy and an average price target of C$236.70.

Intact Financial Stock Up 0.7 %

IFC opened at C$221.46 on Tuesday. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28. The company’s 50-day moving average is C$222.64 and its 200 day moving average is C$210.49. Intact Financial has a fifty-two week low of C$188.22 and a fifty-two week high of C$237.25. The firm has a market capitalization of C$39.49 billion, a P/E ratio of 31.68, a PEG ratio of 2.01 and a beta of 0.54.

Intact Financial (TSE:IFC) last released its quarterly earnings results on Tuesday, February 13th. The company reported C$3.47 earnings per share for the quarter, beating analysts’ consensus estimates of C$3.44 by C$0.03. Intact Financial had a net margin of 4.59% and a return on equity of 8.16%. The company had revenue of C$6.53 billion for the quarter. Research analysts expect that Intact Financial will post 14.4651774 earnings per share for the current fiscal year.

Intact Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $1.21 dividend. This is an increase from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 14th. This represents a $4.84 annualized dividend and a dividend yield of 2.19%. Intact Financial’s dividend payout ratio (DPR) is presently 69.24%.

Insider Transactions at Intact Financial

In other news, Senior Officer Benoit Morissette sold 7,000 shares of Intact Financial stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of C$226.23, for a total value of C$1,583,589.00. Corporate insiders own 0.23% 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.