Intact Financial Co. Plans Quarterly Dividend of $1.21 (TSE:IFC)

Intact Financial Co. (TSE:IFC) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Stockholders of record on Monday, December 16th will be paid a dividend of 1.21 per share on Tuesday, December 31st. This represents a $4.84 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, December 16th.

Intact Financial Stock Down 2.5 %

IFC stock opened at C$265.02 on Thursday. The company’s 50 day moving average is C$259.90 and its 200 day moving average is C$243.33. The stock has a market cap of C$47.27 billion, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57. 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 has a 1-year low of C$196.27 and a 1-year high of C$273.05.

Insider Activity

In other news, Senior Officer Kenneth Anderson sold 2,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of C$253.88, for a total value of C$507,759.00. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. TD Securities upped their price target on shares of Intact Financial from C$293.00 to C$300.00 in a research report on Wednesday. National Bankshares raised their target price on shares of Intact Financial from C$294.00 to C$296.00 in a research report on Wednesday. Cormark increased their target price on Intact Financial from C$250.00 to C$260.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group dropped their price objective on shares of Intact Financial from C$264.00 to C$262.00 and set a “hold” rating on the stock in a research note on Thursday, August 22nd. Finally, Raymond James raised their price target on shares of Intact Financial from C$264.00 to C$290.00 in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Intact Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$271.40.

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.