Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, February 8, 2013

Article Excerpt

INTACT FINANCIAL CORP., $63.55, symbol IFC on Toronto, is Canada’s largest provider of property and casualty insurance, based on premiums. Its brands include Intact Insurance, Canada BrokerLink, belairdirect and Grey Power. In the three months ended December 31, 2012, Intact’s revenue rose 7.2%, to $1.69 billion from $1.58 billion a year earlier. Part of the gain came from Jevco Insurance, which Intact bought from the Westaim Corporation (symbol WED on Toronto) for $530 million in early 2012. Jevco sells insurance to high-risk drivers, as well as owners of motorcycles, snowmobiles, recreational vehicles and tow trucks. It operates in Ontario, Quebec and Alberta. Before one-time items, Intact earned $1.51 a share in the quarter, up 32.5% from $1.14 a share a year earlier. The insurance business was helped by generally favourable weather. The company also saw higher gains on its investments in the latest quarter. Intact continues to increase its premiums and profit margins. At the same time, reforms in the…