Intact Financial (TSE:IFC) Reaches New 1-Year High Following Analyst Upgrade

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

A number of other analysts also recently weighed in on IFC. Desjardins increased their price target on shares of Intact Financial from C$295.00 to C$315.00 and gave the company a “buy” rating in a report on Thursday, February 13th. CIBC upped their price objective 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. BMO Capital Markets lifted their target price on Intact Financial from C$290.00 to C$315.00 in a research report on Thursday, February 13th. Cibc World Mkts lowered Intact Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, TD Securities raised their price objective on Intact Financial from C$300.00 to C$324.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$291.55.

Insider Buying and Selling

In other news, Senior Officer Benoit Morissette sold 6,000 shares of Intact Financial 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. 0.24% of the stock is owned by corporate insiders.

Intact Financial Stock Performance

The firm’s 50-day simple moving average is C$285.02 and its two-hundred day simple moving average is C$271.63. The stock has a market cap of C$52.88 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.01 and a beta of 0.57.

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.