Add to your 340% gain

Article Excerpt

INTACT FINANCIAL, $189.20, remains a buy. The insurer (Toronto symbol IFC; TSINetwork Rating: Extra Risk) (; Shares outstanding: 175.9 million; Market cap: $33.1 billion; Dividend yield: 2.1%) is now hitting new highs—and the shares are up a spectacular 340% since we first recommended them at $42.95 in our April 2010 issue. We also think the company, and the stock, is well-posiitoned for even further gains. In the three months ended March 31, 2022, revenue jumped 100.3%, to $5.09 billion from $2.54 billion a year earlier. Overall earnings per share climbed 12.5%, to $2.70 from $2.40. The gains came in part from the RSA acquisition, but also from improved profitability. That was fuelled by lower catastrophe-related losses and lower auto claims. With the March 2022 payment, the company raised its quarterly dividend by 9.9%. The stock yields a solid 2.1%. What’s more, it trades at just 15.3 times the forecast 2022 earnings of $12.37 a share. Intact Financial is still a buy. buy…

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