Definity Financial (TSE:DFY) Reaches New 52-Week High After Analyst Upgrade

Definity Financial Co. (TSE:DFY)’s share price hit a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from C$83.00 to C$91.00. Jefferies Financial Group currently has a buy rating on the stock. Definity Financial traded as high as C$80.58 and last traded at C$80.43, with a volume of 34726 shares changing hands. The stock had previously closed at C$79.30.

A number of other equities research analysts have also issued reports on the company. TD lifted their target price on Definity Financial from C$85.00 to C$86.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Desjardins reduced their price target on Definity Financial from C$75.00 to C$73.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Barclays raised their price target on shares of Definity Financial from C$78.00 to C$79.00 in a research note on Friday, May 8th. National Bank Financial lifted 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 report on Monday. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$81.40.

Insider Buying and Selling at Definity Financial

In other news, insider Brigid V. Pelino sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of C$72.00, for a total value of C$360,000.00. Following the completion of the transaction, the insider owned 74,109 shares in the company, valued at C$5,335,848. This trade represents a 6.32% decrease in their position. 0.50% of the stock is owned by insiders.

Definity Financial Stock Performance

The stock has a market capitalization of C$9.71 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.63 and a beta of -0.05. The stock has a 50 day simple moving average of C$73.37 and a two-hundred day simple moving average of C$69.74. The company has a quick ratio of 0.31, a current ratio of 1.25 and a debt-to-equity ratio of 43.41.

Definity Financial (TSE:DFY) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.97 earnings per share (EPS) for the quarter. The company had revenue of C$1.92 billion for the quarter. Definity Financial had a return on equity of 9.82% and a net margin of 6.94%. On average, equities analysts forecast that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Definity Financial Company Profile

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