Definity Financial (TSE:DFY) Sets New 1-Year High – Here’s Why

Definity Financial Co. (TSE:DFY)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$58.80 and last traded at C$57.84, with a volume of 110803 shares changing hands. The stock had previously closed at C$56.93.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DFY. National Bankshares boosted their price target on Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Cibc World Mkts lowered Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada upped their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Finally, Raymond James lowered Definity Financial from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Stock Up 1.2 %

The business has a 50 day simple moving average of C$53.78 and a 200 day simple moving average of C$48.81. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The stock has a market cap of C$6.62 billion, a PE ratio of 17.20, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last released its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, equities research analysts forecast that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Definity Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. Definity Financial’s dividend payout ratio (DPR) is presently 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.