Intact Financial Stock Rating Lowered by National Bank Financial (IFC)
Intact Financial (TSE:IFC) was downgraded by research analysts at National Bank Financial to a “sector perform” rating in a report released on Thursday, Analyst Ratings Net reports. They currently have a C$75.00 price target on the stock, up from their previous price target of C$74.00. National Bank Financial’s price target would indicate a potential upside of 3.61% from the stock’s previous close.
Separately, analysts at TD Securities raised their price target on shares of Intact Financial from C$72.00 to C$74.00 in a research note on Thursday, April 17th. They now have a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of C$73.00.
Shares of Intact Financial (TSE:IFC) traded down 1.27% during mid-day trading on Thursday, hitting $71.47. 245,356 shares of the company’s stock traded hands. Intact Financial has a 52 week low of $56.44 and a 52 week high of $72.86. The stock has a 50-day moving average of $69.14 and a 200-day moving average of $67.86. The company has a market cap of $9.401 billion and a price-to-earnings ratio of 23.35.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.65%.
Intact Financial Corporation is a provider of home, auto and business insurance. It insures more than five million individuals and businesses through its insurance subsidiaries, and are private sector provider of property and casualty (TSE:IFC) insurance in British Columbia, Alberta, Ontario, Quebec and Nova Scotia.
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