Definity Financial (TSE:DFY) Stock Gets Price Target Cut from TD

Definity Financial (TSE:DFY) had its price target decreased by TD from C$93.00 to C$87.00 in a research report report published on Wednesday morning,BayStreet reports. TD currently has a buy rating on the stock.

A number of other brokerages have also recently issued reports on DFY. National Bank Financial raised their price objective on shares of Definity Financial from C$94.00 to C$96.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Jefferies Financial Group lifted their target price on shares of Definity Financial from C$83.00 to C$91.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Scotia dropped their target price on shares of Definity Financial from C$84.00 to C$83.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 7th. Canadian Imperial Bank of Commerce upped their target price on shares of Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. Finally, Raymond James Financial increased their price target on Definity Financial from C$80.00 to C$85.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Definity Financial currently has an average rating of “Moderate Buy” and a consensus target price of C$83.08.

Definity Financial Stock Up 0.2%

Shares of TSE DFY opened at C$70.62 on Wednesday. Definity Financial has a 1 year low of C$61.87 and a 1 year high of C$82.59. The firm’s 50-day moving average is C$72.21 and its 200-day moving average is C$71.54. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 37.12. The firm has a market capitalization of C$8.48 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 2.63 and a beta of 0.10.

Definity Financial (TSE:DFY) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share for the quarter. The business had revenue of C$2.05 billion during the quarter. Definity Financial had a net margin of 7.22% and a return on equity of 11.45%. Equities analysts expect that Definity Financial will post 3.13 EPS for the current year.

Insider Transactions at Definity Financial

In other Definity Financial news, insider Innes Fraser Dey sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total transaction of C$388,800.00. Following the transaction, the insider owned 53,150 shares in the company, valued at approximately C$4,305,150. This trade represents a 8.28% decrease in their ownership of the stock. Insiders sold a total of 13,638 shares of company stock worth $1,101,345 in the last quarter. 0.50% of the stock is currently owned by company insiders.

About Definity Financial

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.