Intact Financial (TSE:IFC) Hits New 52-Week High After Analyst Upgrade

Intact Financial Co. (TSE:IFC) shares reached a new 52-week high during trading on Tuesday after Jefferies Financial Group raised their price target on the stock from C$201.00 to C$289.00. The company traded as high as C$299.09 and last traded at C$298.28, with a volume of 49788 shares changing hands. The stock had previously closed at C$293.66.

IFC has been the topic of a number of other reports. Desjardins upped their target price on Intact Financial from C$295.00 to C$315.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Raymond James upped their price objective on shares of Intact Financial from C$290.00 to C$302.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. CIBC lifted their target price on shares of Intact Financial from C$280.00 to C$290.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. UBS Group increased their price target on shares of Intact Financial from C$275.00 to C$290.00 in a report on Tuesday, February 18th. Finally, Cibc World Mkts cut shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$291.55.

Insider Transactions at Intact Financial

In other news, Senior Officer Benoit Morissette sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of C$287.12, for a total value of C$1,722,738.00. Company insiders own 0.24% of the company’s stock.

Intact Financial Price Performance

The stock has a market capitalization of C$52.69 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.01 and a beta of 0.57. The firm’s 50 day moving average price is C$285.21 and its 200 day moving average price is C$271.89.

About Intact Financial

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space.