Definity Financial (TSE:DFY) Price Target Raised to C$47.00

Definity Financial (TSE:DFY) had its target price hoisted by CIBC from C$46.00 to C$47.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Cormark lifted their price target on shares of Definity Financial from C$42.00 to C$43.00 in a report on Friday, February 16th. BMO Capital Markets raised their target price on shares of Definity Financial from C$40.00 to C$44.00 and gave the stock a market perform rating in a research report on Tuesday, February 20th. Desjardins raised their target price on shares of Definity Financial from C$40.00 to C$44.00 and gave the stock a hold rating in a research report on Tuesday, February 20th. National Bankshares raised their target price on shares of Definity Financial from C$57.00 to C$59.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada raised their target price on shares of Definity Financial from C$48.00 to C$49.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$47.30.

Definity Financial Stock Performance

TSE:DFY opened at C$44.30 on Tuesday. The company has a market capitalization of C$5.13 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 2.63 and a beta of 0.08. Definity Financial has a twelve month low of C$32.09 and a twelve month high of C$47.50. The company has a current ratio of 4.68, a quick ratio of 0.31 and a debt-to-equity ratio of 4.99. The firm has a 50-day moving average price of C$44.11 and a two-hundred day moving average price of C$39.95.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.74 by C$0.12. The business had revenue of C$1 billion during the quarter. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%. As a group, research analysts expect that Definity Financial will post 2.7913715 earnings per share for the current fiscal year.

Definity Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.16 per share. This is an increase from Definity Financial’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Thursday, March 14th. Definity Financial’s payout ratio is currently 21.33%.

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.