Definity Financial (TSE:DFY) Stock Gets Price Target Cut from RBC Dominion Securities

Definity Financial (TSE:DFY) had its target price lowered by RBC Dominion Securities from C$94.00 to C$87.00 in a report issued on Thursday,BayStreet reports. The brokerage currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of Definity Financial from C$83.00 to C$91.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. TD reduced their price objective 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. Canadian Imperial Bank of Commerce increased their price objective on shares of Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. National Bank Financial raised their price objective on shares of Definity Financial from C$94.00 to C$96.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Finally, Raymond James Financial raised their price objective on shares of Definity Financial from C$80.00 to C$85.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$83.08.

Definity Financial Price Performance

DFY stock opened at C$70.62 on Thursday. The company has a quick ratio of 0.31, a current ratio of 1.35 and a debt-to-equity ratio of 37.12. Definity Financial has a 52-week low of C$61.87 and a 52-week high of C$82.59. The stock’s 50 day moving average is C$72.21 and its two-hundred day moving average is C$71.54. The company has a market capitalization of C$8.48 billion, a PE ratio of 18.34, a P/E/G ratio of 2.63 and a beta of 0.10.

Definity Financial (TSE:DFY) last announced its earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share (EPS) 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%. Analysts predict that Definity Financial will post 3.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Definity Financial news, insider Innes Fraser Dey sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total transaction of C$388,800.00. Following the sale, the insider owned 53,150 shares in the company, valued at C$4,305,150. This represents a 8.28% decrease in their ownership of the stock. Insiders sold 13,638 shares of company stock valued at $1,101,345 over the last three months. 0.50% of the stock is owned by 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.