Intact Financial (TSE:IFC) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of Intact Financial Co. (TSE:IFC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$251.63 and traded as high as C$261.62. Intact Financial shares last traded at C$258.63, with a volume of 255,902 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Scotiabank upped their target price on shares of Intact Financial from C$281.00 to C$283.00 in a research report on Thursday, November 7th. BMO Capital Markets raised their price objective on Intact Financial from C$275.00 to C$290.00 in a research note on Thursday, November 7th. Jefferies Financial Group reduced their price objective on Intact Financial from C$264.00 to C$262.00 and set a “hold” rating for the company in a report on Thursday, August 22nd. Raymond James upped their target price on Intact Financial from C$264.00 to C$290.00 in a report on Wednesday, November 6th. Finally, National Bankshares lifted their price target on Intact Financial from C$294.00 to C$296.00 in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Intact Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Price Performance

The company has a debt-to-equity ratio of 31.26, a current ratio of 0.36 and a quick ratio of 0.28. The firm has a market capitalization of C$46.74 billion, a PE ratio of 23.07, a P/E/G ratio of 2.01 and a beta of 0.57. The company has a 50-day moving average price of C$267.31 and a 200-day moving average price of C$251.92.

Intact Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $1.21 per share. The ex-dividend date is Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.85%. Intact Financial’s dividend payout ratio (DPR) is presently 42.61%.

Insider Activity at Intact Financial

In related news, Senior Officer Charles Brindamour sold 6,000 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of C$268.50, for a total value of C$1,611,000.00. Also, Senior Officer Darren Christopher Godfrey sold 1,850 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of C$272.50, for a total value of C$504,125.00. Over the last 90 days, insiders have sold 8,865 shares of company stock valued at $2,385,573. Company insiders own 0.24% 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.