Definity Financial (TSE:DFY) Reaches New 1-Year High – Should You Buy?

Definity Financial Co. (TSE:DFY)’s stock price reached a new 52-week high on Monday . The company traded as high as C$80.58 and last traded at C$80.43, with a volume of 34726 shares changing hands. The stock had previously closed at C$79.30.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Canadian Imperial Bank of Commerce raised their target price on shares of Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. TD boosted their price target on Definity Financial from C$85.00 to C$86.00 and gave the company a “buy” rating in a report on Friday, May 8th. Desjardins reduced their price target on Definity Financial from C$75.00 to C$73.00 and set a “hold” rating on the stock in a research note on Monday, April 27th. National Bank Financial raised their price objective on Definity Financial from C$93.00 to C$94.00 in a report on Wednesday, April 29th. Finally, Barclays lifted their price objective on Definity Financial from C$78.00 to C$79.00 in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$80.20.

Definity Financial Stock Up 1.8%

The company has a debt-to-equity ratio of 43.41, a current ratio of 1.25 and a quick ratio of 0.31. The stock has a market cap of C$9.70 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 2.63 and a beta of -0.05. The firm’s 50-day moving average is C$72.87 and its 200 day moving average is C$69.66.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, May 7th. The company reported C$0.97 EPS for the quarter. The business had revenue of C$1.92 billion during the quarter. Definity Financial had a return on equity of 9.82% and a net margin of 6.94%. Sell-side analysts anticipate that Definity Financial Co. will post 3.1263962 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Definity Financial news, insider Brigid V. Pelino sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was 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 C$5,335,848. This represents a 6.32% decrease in their ownership of the stock. 0.50% of the stock is owned by corporate 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.