Definity Financial (TSE:DFY) Price Target Raised to C$52.00 at Scotiabank

Definity Financial (TSE:DFY) had its target price increased by Scotiabank from C$51.00 to C$52.00 in a research report sent to investors on Wednesday, BayStreet.CA reports.

A number of other research firms also recently commented on DFY. Raymond James boosted their price objective on Definity Financial from C$46.00 to C$52.50 and gave the stock an outperform rating in a research note on Monday, May 13th. BMO Capital Markets boosted their price objective 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. Desjardins boosted their price objective on Definity Financial from C$45.00 to C$47.00 and gave the stock a hold rating in a research note on Tuesday. CIBC boosted their price objective on Definity Financial from C$46.00 to C$47.00 and gave the stock an outperform rating in a research note on Tuesday, April 16th. Finally, National Bankshares boosted their price objective on Definity Financial from C$59.00 to C$60.00 and gave the stock an outperform rating in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of C$50.05.

Definity Financial Stock Up 1.4 %

Shares of Definity Financial stock opened at C$48.02 on Wednesday. The business’s fifty day moving average price is C$44.40 and its two-hundred day moving average price is C$43.44. The company has a debt-to-equity ratio of 8.20, a current ratio of 5.47 and a quick ratio of 0.31. The company has a market capitalization of C$5.53 billion and a P/E ratio of 15.85. Definity Financial has a 1-year low of C$32.09 and a 1-year high of C$48.36.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, May 9th. The company reported C$0.65 earnings per share for the quarter, missing the consensus estimate of C$0.72 by C($0.07). The business had revenue of C$991.90 million for the quarter, compared to the consensus estimate of C$1 billion. Definity Financial had a net margin of 8.94% and a return on equity of 12.27%. As a group, research analysts forecast that Definity Financial will post 2.6896762 EPS for the current year.

Definity Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.33%. Definity Financial’s dividend payout ratio is 21.12%.

About Definity Financial

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.