Intact Financial (TSE:IFC) Rating Lowered to Hold at Cibc World Mkts

Cibc World Mkts downgraded shares of Intact Financial (TSE:IFC) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also issued reports on IFC. Scotiabank boosted their target price on Intact Financial from C$281.00 to C$283.00 in a research note on Thursday, November 7th. Raymond James boosted their price objective on Intact Financial from C$264.00 to C$290.00 in a research note on Wednesday, November 6th. National Bankshares increased their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price target on shares of Intact Financial from C$275.00 to C$290.00 in a research report on Thursday, November 7th. Finally, TD Securities raised their price objective on shares of Intact Financial from C$293.00 to C$300.00 in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Intact Financial currently has an average rating of “Moderate Buy” and a consensus target price of C$274.90.

Intact Financial Stock Up 1.0 %

IFC stock opened at C$257.74 on Wednesday. Intact Financial has a 1-year low of C$206.57 and a 1-year high of C$275.84. The stock has a market cap of C$45.97 billion, a P/E ratio of 22.69, a P/E/G ratio of 2.01 and a beta of 0.57. The stock’s fifty day simple moving average is C$262.24 and its two-hundred day simple moving average is C$258.15. The company has a current ratio of 0.36, a quick ratio of 0.28 and a debt-to-equity ratio of 31.26.

Intact Financial (TSE:IFC) last announced its quarterly earnings data on Tuesday, November 5th. The company reported C$1.01 EPS for the quarter, topping the consensus estimate of C$0.29 by C$0.72. Intact Financial had a net margin of 7.14% and a return on equity of 12.93%. During the same period last year, the business earned $2.10 EPS. Analysts expect that Intact Financial will post 16.1721014 EPS for the current year.

Intact Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $1.21 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.88%. Intact Financial’s dividend payout ratio (DPR) is currently 42.61%.

Insider Buying and Selling

In related news, Senior Officer Marie-Lucie Paradis sold 565 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of C$266.23, for a total value of C$150,419.95. Also, Senior Officer Frédéric Cotnoir sold 450 shares of Intact Financial stock in a transaction dated Friday, November 29th. The stock was sold at an average price of C$266.73, for a total value of C$120,028.50. Over the last quarter, insiders have sold 8,865 shares of company stock worth $2,385,573. Corporate insiders own 0.24% 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.