TD Securities Increases Definity Financial (TSE:DFY) Price Target to C$55.00

Definity Financial (TSE:DFY) had its price target upped by TD Securities from C$52.00 to C$55.00 in a report released on Friday, BayStreet.CA reports.

A number of other research analysts have also recently commented on the company. National Bankshares upped their price objective on Definity Financial from C$60.00 to C$62.00 and gave the company an outperform rating in a report on Tuesday, August 6th. CIBC cut Definity Financial from an outperform rating to a neutral rating and increased their price objective for the company from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Royal Bank of Canada increased their target price on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Cibc World Mkts lowered Definity Financial from a strong-buy rating to a hold rating in a report on Tuesday, August 6th. Finally, Scotiabank dropped their price objective on Definity Financial from C$52.00 to C$51.00 and set a sector perform rating on the stock in a report on Thursday, August 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of C$53.10.

Definity Financial Price Performance

TSE:DFY opened at C$53.21 on Friday. Definity Financial has a 12 month low of C$35.48 and a 12 month high of C$53.53. The stock has a 50 day moving average of C$48.84 and a two-hundred day moving average of C$45.98. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The firm has a market cap of C$6.11 billion, a P/E ratio of 16.08, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.28. The business had revenue of C$1.05 billion during the quarter, compared to analyst estimates of C$1.07 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, analysts expect that Definity Financial will post 3.1395647 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.20%. Definity Financial’s payout ratio is currently 19.34%.

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.