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

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

A number of other research firms also recently weighed in on DFY. Cormark lifted their price target on shares of Definity Financial from C$42.00 to C$43.00 in a research note on Friday, February 16th. TD Securities lifted their price target on shares of Definity Financial from C$45.00 to C$49.00 and gave the stock a buy rating in a research note on Friday, February 16th. BMO Capital Markets lifted their price target on shares of Definity Financial from C$40.00 to C$44.00 and gave the stock a market perform rating in a research note on Tuesday, February 20th. Royal Bank of Canada lifted their price objective on Definity Financial from C$48.00 to C$49.00 and gave the company an outperform rating in a report on Friday, February 16th. Finally, Scotiabank lifted their price objective on Definity Financial from C$46.00 to C$49.00 and gave the company an outperform rating in a report on Tuesday, February 20th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of C$47.30.

Definity Financial Trading Down 0.2 %

Shares of Definity Financial stock opened at C$44.30 on Tuesday. The company’s fifty day simple moving average is C$44.11 and its 200-day simple moving average is C$39.95. The company has a market cap of C$5.13 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 2.63 and a beta of 0.08. The company has a current ratio of 4.68, a quick ratio of 0.31 and a debt-to-equity ratio of 4.99. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$47.50.

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

Definity Financial Increases Dividend

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

About Definity Financial

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.