Intact Financial Reaches New 12-Month High Following UBS Upgrade

On Tuesday, Intact Financial Co. (TSE:IFC) celebrated a milestone as its share price hit a new 52-week high in mid-day trading. This surge comes on the heels of an upgrade from UBS Group, which raised its price target for the stock from C$275.00 to C$290.00. The stock achieved a high of C$24.74 during the trading session and was last recorded at C$289.45, with a trading volume of 478,979 shares. Previously, it had closed at C$288.21.

Several other brokerage firms have also recently updated their ratings for Intact Financial. Jefferies Financial Group increased their price target from C$284.00 to C$301.00 in a report released on February 13. Additionally, National Bankshares raised their target from C$294.00 to C$296.00 in a note issued on November 6 of last year. CIBC World Markets downgraded the stock from a "strong-buy" to a "hold" rating on January 29. Meanwhile, Desjardins increased their target price from C$295.00 to C$315.00, assigning a "buy" rating on February 13. Raymond James also raised their price target from C$290.00 to C$302.00, giving the stock an "outperform" rating the same day. Currently, analysis shows four investment analysts rating the stock as a hold, while six recommend a buy. MarketBeat.com indicates that the consensus rating is "Moderate Buy" with an average price target of C$292.64.

Insider Transactions at Intact Financial

In related news, insider trading activity has occurred at Intact Financial. Senior Officer Benoit Morissette sold 6,000 shares on February 13 at an average price of C$287.12, totaling C$1,722,738.00. Another Senior Officer, Darren Christopher Godfrey, sold 1,850 shares on December 6 at an average price of C$272.50, making a total transaction of C$504,125.00. Over the last 90 days, company insiders have sold 14,300 shares valued at approximately C$3,957,892. Insiders currently own 0.24% of the company's stock.

Intact Financial’s Market Position

Intact Financial is currently valued at a market cap of C$49.80 billion. The company's price-to-earnings ratio stands at 21.68, and it has a PEG ratio of 2.01, with a beta of 0.57. Its 50-day moving average price is C$263.90, while the 200-day moving average price is C$261.47.

About Intact Financial Corporation

Intact Financial Corporation operates through its subsidiaries and provides a variety of property and casualty insurance products to clients in Canada, the United States, the United Kingdom, and globally. Their offerings include personal auto insurance, home and property coverage, and various commercial lines including auto, property, and liability insurance.

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