Intact Financial (TSE:IFC) Upgraded to Hold at Royal Bank Of Canada

Intact Financial (TSE:IFC) was upgraded by research analysts at Royal Bank Of Canada to a “hold” rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage presently has a C$329.00 target price on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 7.81% from the stock’s current price.

A number of other analysts have also commented on the stock. Raymond James Financial upped their price objective on shares of Intact Financial from C$302.00 to C$330.00 and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Desjardins boosted their target price on shares of Intact Financial from C$320.00 to C$330.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. Scotiabank raised their target price on Intact Financial from C$298.00 to C$305.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. UBS Group increased their price objective on Intact Financial from C$275.00 to C$290.00 in a research note on Tuesday, February 18th. Finally, CIBC increased their price target on shares of Intact Financial from C$290.00 to C$300.00 in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$312.55.

Intact Financial Stock Performance

Shares of TSE:IFC traded down C$0.83 during trading hours on Wednesday, hitting C$305.16. 22,144 shares of the company’s stock traded hands, compared to its average volume of 283,152. The company’s fifty day simple moving average is C$301.89 and its two-hundred day simple moving average is C$282.59. Intact Financial has a 52 week low of C$218.58 and a 52 week high of C$315.99. The company has a market cap of C$54.28 billion, a price-to-earnings ratio of 23.63, a price-to-earnings-growth ratio of 2.01 and a beta of 0.57.

Insiders Place Their Bets

In related news, Director Timothy Michael Miller sold 13,028 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of C$309.88, for a total transaction of C$4,037,064.53. Company insiders own 0.24% of the company’s stock.

About Intact Financial

Intact Financial Corp is a property and casualty insurance company that provides written premiums in Canada. The company distributes insurance under the Intact Insurance brand through a network of brokers and a wholly-owned subsidiary, BrokerLink, and directly to consumers through Belairdirect. Most of the company’s direct premiums are written in the personal automotive space.