Fairfax Financial (TSE:FFH) Reaches New 52-Week High – Here’s Why

Fairfax Financial Holdings Limited (TSE:FFH) shares hit a new 52-week high on Monday . The company traded as high as C$2,252.93 and last traded at C$2,213.48, with a volume of 2568 shares changing hands. The stock had previously closed at C$2,199.35.

Analyst Ratings Changes

A number of research firms recently commented on FFH. Raymond James set a C$2,600.00 price objective on Fairfax Financial and gave the stock an “outperform” rating in a report on Friday, April 11th. CIBC increased their price objective on Fairfax Financial from C$2,500.00 to C$2,700.00 in a research note on Friday, May 2nd. Scotiabank raised their price target on Fairfax Financial from C$2,400.00 to C$2,500.00 and gave the company a “sector perform” rating in a report on Thursday, April 24th. BMO Capital Markets lifted their target price on Fairfax Financial from C$2,400.00 to C$2,500.00 in a research report on Monday, May 5th. Finally, Cormark boosted their target price on Fairfax Financial from C$2,250.00 to C$2,700.00 in a report on Monday, May 5th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Fairfax Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$2,446.43.

Fairfax Financial Price Performance

The company has a market capitalization of C$35.53 billion, a P/E ratio of 8.48, a P/E/G ratio of 0.27 and a beta of 0.83. The stock has a 50-day moving average price of C$2,055.61 and a 200-day moving average price of C$1,995.37.

Insider Transactions at Fairfax Financial

In other news, Director Brian Johnston Porter acquired 100 shares of Fairfax Financial stock in a transaction on Tuesday, February 18th. The stock was purchased at an average price of C$2,104.88 per share, with a total value of C$210,488.00. Also, Director Jonathan Godown sold 50 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of C$1,989.23, for a total value of C$99,461.43. Insiders sold 6,792 shares of company stock worth $13,498,692 over the last ninety days. 3.76% of the stock is owned by insiders.

About Fairfax Financial

Fairfax Financial Holdings Limited, through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, Asia, and internationally. The company operates through Property and Casualty Insurance and Reinsurance, Life insurance and Run-off, and Non-Insurance Companies segments.