Definity Financial (TSE:DFY) PT Raised to C$47.00

Definity Financial (TSE:DFY) had its target price hoisted by CIBC from C$46.00 to C$47.00 in a report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other brokerages have also issued reports on DFY. National Bankshares increased their price target on Definity Financial from C$57.00 to C$59.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. TD Securities increased their price target on Definity Financial from C$45.00 to C$49.00 and gave the stock a buy rating in a research note on Friday, February 16th. Scotiabank increased their price target on Definity Financial from C$46.00 to C$49.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. BMO Capital Markets raised their price objective on Definity Financial from C$40.00 to C$44.00 and gave the company a market perform rating in a research report on Tuesday, February 20th. Finally, Raymond James raised their price objective on Definity Financial from C$42.00 to C$46.00 and gave the company a market perform rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of C$47.30.

Definity Financial Price Performance

Shares of Definity Financial stock opened at C$44.39 on Tuesday. Definity Financial has a one year low of C$32.09 and a one year high of C$47.50. The stock’s fifty day moving average is C$44.00 and its 200 day moving average is C$39.90. The stock has a market cap of C$5.14 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.63 and a beta of 0.08. The company has a debt-to-equity ratio of 4.99, a quick ratio of 0.31 and a current ratio of 4.68.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.74 by C$0.12. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. The company had revenue of C$1 billion for the quarter. Sell-side analysts anticipate that Definity Financial will post 2.7913715 earnings per share for the current year.

Definity Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $0.16 dividend. This is a positive change from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.44%. Definity Financial’s payout ratio is presently 21.33%.

Definity Financial Company Profile

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.