Q: Hi, Intact Financial shares dropped today over $3, on no news, while most of the P&C Co's shares in US were holding on well or even higher. IFC is a favorite ( Bal Portfolio) at 5i and the valuation does not seem expensive compared to its US peers. Would you be comfortable adding at current level of $226 ? Thank You
5i Research Answer:
Yes; the stock is up 22% in a year so can always see some profit-taking. But it is cheap and well-managed, and we would be comfortable buying still.