Intact Financial (TSE:IFC) Hits New 12-Month High – Here’s What Happened

Intact Financial Co. (TSE:IFC)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as C$292.92 and last traded at C$293.28, with a volume of 117283 shares trading hands. The stock had previously closed at C$286.15.

Wall Street Analysts Forecast Growth

IFC has been the topic of a number of analyst reports. Desjardins increased their price target on Intact Financial from C$295.00 to C$315.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. UBS Group raised their target price on Intact Financial from C$275.00 to C$290.00 in a report on Tuesday, February 18th. TD Securities upped their price target on Intact Financial from C$300.00 to C$324.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. CIBC lifted their price objective on shares of Intact Financial from C$280.00 to C$290.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Cibc World Mkts downgraded shares of Intact Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$292.64.

Intact Financial Price Performance

The company has a market cap of C$52.78 billion, a P/E ratio of 22.98, a P/E/G ratio of 2.01 and a beta of 0.57. The company’s 50-day moving average price is C$278.53 and its 200-day moving average price is C$268.47.

Insider Buying and Selling 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 transaction of C$1,722,738.00. Company insiders own 0.24% of the company’s stock.

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.