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

Royal Bank Of Canada upgraded shares of Intact Financial (TSE:IFC) to a hold rating in a research report released on Wednesday morning, Marketbeat reports. They currently have C$329.00 target price on the stock.

IFC has been the topic of several other reports. National Bankshares increased their price target on shares of Intact Financial from C$336.00 to C$341.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Desjardins upped their target price on Intact Financial from C$320.00 to C$330.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. CIBC lifted their price target on Intact Financial from C$290.00 to C$300.00 in a report on Friday, April 25th. Scotiabank boosted their price target on Intact Financial from C$298.00 to C$305.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Jefferies Financial Group increased their price objective on Intact Financial from C$201.00 to C$289.00 in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$312.55.

Intact Financial Stock Performance

TSE IFC opened at C$305.34 on Wednesday. The firm has a 50-day moving average of C$302.79 and a 200-day moving average of C$282.98. The stock has a market cap of C$54.32 billion, a PE ratio of 23.64, a P/E/G ratio of 2.01 and a beta of 0.57. Intact Financial has a 52-week low of C$219.53 and a 52-week high of C$315.99.

Insider Buying and Selling

In related news, Director Timothy Michael Miller sold 13,028 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of C$309.88, for a total value of C$4,037,064.53. 0.24% of the stock is currently owned by company insiders.

Intact Financial Company Profile

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.