Definity Financial (TSE:DFY) Reaches New 12-Month High at $47.55

Definity Financial Co. (TSE:DFY) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$47.55 and last traded at C$47.23, with a volume of 4680 shares. The stock had previously closed at C$47.14.

Analysts Set New Price Targets

DFY has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on Definity Financial from C$44.00 to C$48.00 and gave the stock a “market perform” rating in a research note on Monday, May 13th. Jefferies Financial Group cut their price objective on Definity Financial from C$44.00 to C$43.00 and set a “hold” rating on the stock in a research report on Monday, May 13th. National Bankshares lifted their price objective on Definity Financial from C$59.00 to C$60.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Scotiabank cut their price objective on Definity Financial from C$52.00 to C$51.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Finally, CIBC lifted their price objective on Definity Financial from C$46.00 to C$47.00 and gave the company an “outperform” rating in a research report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$48.95.

Definity Financial Stock Up 0.7 %

The stock has a market capitalization of C$5.47 billion and a PE ratio of 15.56. The company’s fifty day moving average price is C$44.13 and its 200-day moving average price is C$43.24. The company has a quick ratio of 0.31, a current ratio of 5.47 and a debt-to-equity ratio of 8.20.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). Definity Financial had a return on equity of 12.27% and a net margin of 8.94%. The firm had revenue of C$991.90 million during the quarter, compared to analysts’ expectations of C$1 billion. Analysts forecast that Definity Financial Co. will post 2.6896762 earnings per share for the current year.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.35%. Definity Financial’s payout ratio is currently 21.12%.

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.