Intact Financial Co. (IFC) Sets New 52-Week High at $109.17

Intact Financial Co. (TSE:IFC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$109.17 and last traded at C$107.30, with a volume of 139776 shares trading hands. The stock had previously closed at C$106.52.

A number of brokerages have issued reports on IFC. Raymond James Financial, Inc. lifted their price objective on Intact Financial from C$102.00 to C$104.00 and gave the company a “market perform” rating in a research note on Thursday, August 3rd. BMO Capital Markets set a C$110.00 price objective on Intact Financial and gave the company an “outperform” rating in a research note on Thursday, August 3rd. Desjardins lifted their price objective on Intact Financial from C$96.00 to C$98.00 in a research note on Wednesday, August 2nd. Barclays PLC lifted their price objective on Intact Financial from C$100.00 to C$109.00 in a research note on Friday, October 20th. Finally, Scotiabank lowered their price objective on Intact Financial from C$110.00 to C$107.00 and set a “sector perform” rating for the company in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Intact Financial currently has an average rating of “Hold” and an average price target of C$109.20.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, December 14th. Intact Financial’s dividend payout ratio is currently 46.13%.

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Intact Financial Company Profile

Intact Financial Corporation is a holding company, which provides property and casualty (P&C) insurance. The Company operates through P&C insurance operations segment. It offers a range of car, home and business insurance products, including personal auto, personal property, commercial P&C and commercial auto.

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