Definity Financial (TSE:DFY) Stock Gets Price Target Trim from Raymond James Financial

Definity Financial (TSE:DFY) had its price target dropped by analysts at Raymond James Financial from C$85.00 to C$84.00 in a research note issued to investors on Friday, BayStreet reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s target price would suggest a potential upside of 20.00% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on DFY. RBC Dominion Securities decreased 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 research report on Thursday. Canadian Imperial Bank of Commerce boosted their target price on shares of Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. Scotia dropped their price target 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. National Bank Financial upped their price target 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. Finally, TD cut their price target on shares of Definity Financial from C$93.00 to C$87.00 and set a “buy” rating on the stock in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$83.08.

Definity Financial Trading Down 0.7%

TSE DFY traded down C$0.49 during trading hours on Friday, hitting C$70.00. 73,091 shares of the company’s stock were exchanged, compared to its average volume of 179,176. The business’s 50 day moving average is C$72.40 and its 200-day moving average is C$71.55. Definity Financial has a 12-month low of C$61.87 and a 12-month high of C$82.59. The firm has a market capitalization of C$8.41 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 2.63 and a beta of 0.10. The company has a debt-to-equity ratio of 37.12, a quick ratio of 0.31 and a current ratio of 1.35.

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

Insider Buying and Selling

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