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$IFC

2 stories mentioning IFCUpdated 51d ago

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Research

Research Alert: CFRA Upgrades Rating On Shares Of Intact Financial Corporation To Buy From Hold

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We upgrade our opinion on IFC to Buy from Hold, and increase our target price to CAD299 from CAD288. This is derived from our earnings multiple of 14.0x our 2027 adjusted EPS (AEPS) estimate of CAD21.34. We lower our 2026 AEPS estimate to CAD19.90 from CAD20.12. IFC's #1 market positioning in Canada and sustained low-90 combined ratio percentage are increasingly more attractive in a market where both equities and crude oil pricing are stretched. Affordability is a concern amid spiking gas prices; however, the inelasticity of P&C insurance makes it a safe haven to which we believe it is wise to gain exposure. As the laggard in our insurance coverage with -15% one-year share price performance, we consider Q1's NOIPS and BVPS growing 8%-13% and the combined ratio remaining sub-92% constructive.

$IFC
Research

Research Alert: Ifc Q1: Combined Ratio Holds At 91.3%, Noips Rises 8%

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:IFC reported NOIPS of CAD4.33 per share, up 8% Y/Y and above consensus of CAD4.06, while diluted EPS reached CAD4.12, increasing 12% Y/Y and exceeding expectations of CAD3.69. The combined ratio held at 91.3%, matching prior year levels, as operating direct premiums written grew 4% to CAD5.6B with Canada up 5%, UK&I up 2%, and US up 4%. As the laggard in our insurance coverage with -15% 1-year share price performance, we consider NOIPS and BVPS growing 8%-13% and the combined ratio remaining sub-92% constructive performance. The company expects full-year investment income of approximately CAD1.7B. Canada segment improved with a 89.3% combined ratio, while UK&I deteriorated to 103.2% due to catastrophe losses and large claims. Operating ROE climbed 290 bps to 19.4%, while total capital margin expanded to CAD4.0B, up CAD916M from prior year. The strengthened balance sheet increasingly provides capacity for acquisitions and share repurchases.

$IFC

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