Desjardins Increases Intact Financial (TSE:IFC) Price Target to C$238.00

Intact Financial (TSE:IFC) had its price target raised by Desjardins from C$235.00 to C$238.00 in a report released on Tuesday, BayStreet.CA reports. Desjardins currently has a buy rating on the stock. Desjardins also issued estimates for Intact Financial’s Q1 2024 earnings at $3.50 EPS and FY2024 earnings at $14.65 EPS.

Several other analysts have also commented on IFC. Scotiabank boosted their price target on Intact Financial from C$252.00 to C$256.00 and gave the company an outperform rating in a research note on Thursday, February 15th. BMO Capital Markets boosted their price objective on Intact Financial from C$230.00 to C$240.00 and gave the stock an outperform rating in a research note on Thursday, February 15th. TD Securities boosted their price objective on Intact Financial from C$225.00 to C$235.00 and gave the stock a buy rating in a research note on Wednesday, February 14th. National Bankshares reduced their price objective on Intact Financial from C$250.00 to C$245.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Finally, Raymond James boosted their price objective on Intact Financial from C$221.00 to C$247.00 in a research note on Wednesday, February 14th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Intact Financial presently has a consensus rating of Moderate Buy and an average target price of C$236.70.

Intact Financial Price Performance

Shares of IFC stock opened at C$221.95 on Tuesday. The stock’s fifty day simple moving average is C$223.38 and its 200 day simple moving average is C$210.82. The company has a debt-to-equity ratio of 34.90, a current ratio of 0.38 and a quick ratio of 0.28. The firm has a market cap of C$39.58 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 2.01 and a beta of 0.54. Intact Financial has a one year low of C$188.22 and a one year high of C$237.25.

Intact Financial (TSE:IFC) last announced its quarterly earnings results on Tuesday, February 13th. The company reported C$3.47 EPS for the quarter, beating the consensus estimate of C$3.44 by C$0.03. The business had revenue of C$6.53 billion for the quarter. Intact Financial had a return on equity of 8.16% and a net margin of 4.59%. On average, analysts expect that Intact Financial will post 14.4651774 earnings per share for the current fiscal year.

Intact Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a yield of 2.18%. This is a boost from Intact Financial’s previous quarterly dividend of $1.10. The ex-dividend date of this dividend was Thursday, March 14th. Intact Financial’s payout ratio is presently 69.24%.

Insider Buying and Selling at Intact Financial

In other Intact Financial news, Senior Officer Benoit Morissette sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$226.23, for a total value of C$1,583,589.00. Insiders own 0.23% 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.