Definity Financial (TSE:DFY) Price Target Cut to C$83.00 by Analysts at Scotia

Definity Financial (TSE:DFY) had its price target cut by analysts at Scotia from C$84.00 to C$83.00 in a research report issued to clients and investors on Wednesday, BayStreet reports. The firm currently has a “sector perform” rating on the stock. Scotia’s price target indicates a potential upside of 24.38% from the stock’s current price.

DFY has been the topic of a number of other reports. National Bank Financial boosted their target price on 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. Raymond James Financial increased their price target on Definity Financial from C$80.00 to C$85.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Jefferies Financial Group lifted their price target on 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. Canadian Imperial Bank of Commerce upped their price objective on shares of Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Finally, TD lifted their target price on shares of Definity Financial from C$89.00 to C$93.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$83.36.

Definity Financial Price Performance

Shares of TSE:DFY traded down C$0.04 during trading hours on Wednesday, hitting C$66.73. 129,346 shares of the company’s stock traded hands, compared to its average volume of 179,094. The company’s fifty day simple moving average is C$74.05 and its two-hundred day simple moving average is C$71.47. The company has a market cap of C$8.02 billion, a price-to-earnings ratio of 17.33, 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 has a 52 week low of C$61.87 and a 52 week high of C$82.59.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, July 30th. The company reported C$0.97 EPS for the quarter. The business had revenue of C$2.05 billion during the quarter. Definity Financial had a net margin of 7.22% and a return on equity of 11.45%. As a group, equities analysts anticipate that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Innes Fraser Dey sold 4,800 shares of the company’s stock in a transaction dated 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 transaction, the insider owned 53,150 shares in the company, valued at C$4,305,150. This represents a 8.28% decrease in their position. Over the last 90 days, insiders sold 13,638 shares of company stock worth $1,101,345. Insiders own 0.50% of the company’s stock.

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.