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

Definity Financial (TSE:DFY) had its price objective cut by equities research analysts at Desjardins from C$85.00 to C$80.00 in a report issued on Thursday, BayStreet reports. The firm currently has a “hold” rating on the stock. Desjardins‘s price target suggests a potential upside of 9.95% from the stock’s previous close.

DFY has been the topic of several other research reports. Raymond James Financial cut their target price on Definity Financial from C$85.00 to C$84.00 and set a “market perform” rating on the stock in a research note on Friday, October 16th. Canadian Imperial Bank of Commerce increased their price target on shares of Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Scotia lowered their price objective on shares of Definity Financial from C$84.00 to C$83.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 7th. RBC Dominion Securities dropped their target price on shares of Definity Financial from C$94.00 to C$87.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Finally, National Bank Financial cut their target price on shares of Definity Financial from C$96.00 to C$92.00 and set an “outperform” rating for the company in a research note on Wednesday. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Definity Financial has an average rating of “Moderate Buy” and a consensus price target of C$83.33.

Definity Financial Trading Up 2.2%

Shares of TSE DFY traded up C$1.60 during midday trading on Thursday, reaching C$72.76. 40,952 shares of the stock were exchanged, compared to its average volume of 177,174. Definity Financial has a 12 month low of C$61.87 and a 12 month high of C$82.59. The company has a market capitalization of C$8.74 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 2.63 and a beta of 0.10. The company has a debt-to-equity ratio of 37.12, a current ratio of 1.35 and a quick ratio of 0.31. The business has a 50-day simple moving average of C$71.35 and a two-hundred day simple moving average of C$70.81.

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

Insider Buying and Selling at Definity Financial

In related news, insider Innes Fraser Dey sold 4,800 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total value of C$388,800.00. Following the sale, the insider owned 53,150 shares in the company, valued at approximately C$4,305,150. This represents a 8.28% decrease in their position. Over the last quarter, insiders sold 13,638 shares of company stock worth $1,101,345. 0.50% of the stock is currently owned by insiders.

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.