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

Definity Financial Co. (TSE:DFY) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as C$82.59 and last traded at C$82.20, with a volume of 9279 shares traded. The stock had previously closed at C$81.78.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DFY shares. National Bank Financial lifted their target price on shares of Definity Financial from C$94.00 to C$96.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Desjardins reduced their price target on shares of 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. Canadian Imperial Bank of Commerce raised their price objective on shares of Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Barclays lifted their price objective on shares of Definity Financial from C$78.00 to C$79.00 in a research report on Friday, May 8th. Finally, TD boosted their target price on shares of Definity Financial from C$89.00 to C$93.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$83.40.

Definity Financial Stock Performance

The stock has a market capitalization of C$9.77 billion, a PE ratio of 21.11, a P/E/G ratio of 2.63 and a beta of -0.05. The firm has a 50 day moving average of C$74.60 and a 200-day moving average of C$69.90.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share for the quarter. The company had revenue of C$2.05 billion for the quarter. Definity Financial had a return on equity of 11.45% and a net margin of 7.22%. On average, sell-side analysts predict that Definity Financial Co. will post 3.1263962 earnings per share for the current year.

Insider Activity at Definity Financial

In related news, insider Brigid V. Pelino sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of C$72.00, for a total transaction of C$360,000.00. Following the completion of the sale, the insider directly owned 74,109 shares in the company, valued at approximately C$5,335,848. This trade represents a 6.32% decrease in their ownership of the stock. Corporate insiders own 0.50% of the company’s stock.

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.