Definity Financial (TSE:DFY) Sets New 12-Month High – Here’s What Happened

Definity Financial Co. (TSE:DFY)’s stock price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as C$55.61 and last traded at C$55.47, with a volume of 31908 shares changing hands. The stock had previously closed at C$54.87.

Analysts Set New Price Targets

DFY has been the subject of several recent research reports. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price target for the company from C$47.00 to C$51.00 in a report on Tuesday, August 6th. National Bankshares boosted their price target 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. Cormark boosted their price target on Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. Royal Bank of Canada upped their price objective on Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Finally, Desjardins upped their price objective on Definity Financial from C$47.00 to C$52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$52.90.

Definity Financial Stock Performance

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 firm has a fifty day moving average price of C$51.39 and a two-hundred day moving average price of C$47.12. The stock has a market capitalization of C$6.38 billion, a PE ratio of 16.58, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share for the quarter, topping the consensus estimate of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The firm had revenue of C$1.05 billion for the quarter, compared to the consensus estimate of C$1.07 billion. Research analysts expect that Definity Financial Co. will post 3.1263962 EPS for the current year.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.64 annualized dividend and a yield of 1.15%. Definity Financial’s dividend payout ratio (DPR) 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.