Royal Bank Of Canada Has Lowered Expectations for Intact Financial (TSE:IFC) Stock Price

Intact Financial (TSE:IFC) had its price target reduced by investment analysts at Royal Bank Of Canada from C$329.00 to C$324.00 in a note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 14.46% from the company’s previous close.

Several other analysts have also weighed in on the stock. National Bankshares lifted their price objective on shares of Intact Financial from C$341.00 to C$350.00 and gave the company an “outperform” rating in a research note on Tuesday. CIBC lifted their price target on shares of Intact Financial from C$290.00 to C$300.00 in a research report on Friday, April 25th. Scotiabank lifted their price target on shares of Intact Financial from C$318.00 to C$325.00 in a research report on Wednesday, July 23rd. BMO Capital Markets lifted their price target on shares of Intact Financial from C$330.00 to C$335.00 in a research report on Friday, July 11th. Finally, Raymond James Financial lifted their price target on shares of Intact Financial from C$302.00 to C$330.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Intact Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$322.20.

Intact Financial Stock Down 1.2%

TSE:IFC opened at C$283.07 on Thursday. The company has a fifty day moving average of C$306.93 and a 200-day moving average of C$291.93. The firm has a market capitalization of C$50.35 billion, a P/E ratio of 21.92, a P/E/G ratio of 2.01 and a beta of 0.57. Intact Financial has a twelve month low of C$240.37 and a twelve month high of C$317.35.

Insider Transactions at Intact Financial

In other Intact Financial news, Director Timothy Michael Miller sold 13,028 shares of Intact Financial stock in a transaction on Thursday, June 12th. The shares were sold at an average price of C$309.88, for a total transaction of C$4,037,064.53. 0.24% of the stock is owned by corporate insiders.

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.