Desjardins Brokers Raise Earnings Estimates for Intact Financial Co. (TSE:IFC)

Intact Financial Co. (TSE:IFC) – Equities research analysts at Desjardins boosted their FY2024 earnings per share estimates for shares of Intact Financial in a report issued on Monday, July 22nd. Desjardins analyst D. Young now expects that the company will post earnings of $14.87 per share for the year, up from their prior estimate of $14.85. Desjardins currently has a “Buy” rating and a $255.00 target price on the stock. The consensus estimate for Intact Financial’s current full-year earnings is $14.67 per share. Desjardins also issued estimates for Intact Financial’s FY2025 earnings at $15.85 EPS.

Intact Financial (TSE:IFC) last announced its earnings results on Tuesday, May 7th. The company reported C$3.63 EPS for the quarter, topping analysts’ consensus estimates of C$3.43 by C$0.20. The firm had revenue of C$7.06 billion during the quarter, compared to analysts’ expectations of C$8.33 billion. Intact Financial had a return on equity of 10.00% and a net margin of 5.55%.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group dropped their price objective on Intact Financial from C$242.00 to C$241.00 in a report on Monday. Scotiabank boosted their price objective on Intact Financial from C$264.00 to C$272.00 in a report on Wednesday. TD Securities boosted their price objective on Intact Financial from C$250.00 to C$258.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Royal Bank of Canada boosted their price objective on Intact Financial from C$226.00 to C$243.00 and gave the company a “sector perform” rating in a report on Wednesday, May 8th. Finally, BMO Capital Markets boosted their price objective on Intact Financial from C$240.00 to C$250.00 in a report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$249.70.

Intact Financial Price Performance

Shares of Intact Financial stock opened at C$240.87 on Wednesday. The stock has a market cap of C$42.95 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.01 and a beta of 0.53. The company has a debt-to-equity ratio of 32.83, a quick ratio of 0.28 and a current ratio of 0.35. The stock has a 50 day moving average price of C$230.20 and a 200-day moving average price of C$223.36. Intact Financial has a one year low of C$188.22 and a one year high of C$244.30.

Intact Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.21 per share. This represents a $4.84 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Friday, June 14th. Intact Financial’s dividend payout ratio (DPR) is presently 56.21%.

Insider Buying and Selling at Intact Financial

In other news, Senior Officer Louis Marcotte sold 300 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total value of C$68,583.00. In other news, Senior Officer Louis Marcotte sold 300 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of C$228.61, for a total value of C$68,583.00. Also, Senior Officer Louis Gagnon sold 10,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of C$229.56, for a total value of C$2,295,607.00. Insiders sold a total of 32,500 shares of company stock valued at $7,377,706 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.

About Intact Financial

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.