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

Definity Financial (TSE:DFY) had its target price cut by Desjardins from C$85.00 to C$80.00 in a research report released on Thursday morning,BayStreet reports. They currently have a hold rating on the stock.

A number of other brokerages also recently issued reports on DFY. Raymond James Financial cut their price objective on Definity Financial from C$85.00 to C$84.00 and set a “market perform” rating for the company in a research note on Friday, October 16th. Scotia decreased their target price 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 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 note on Thursday, October 15th. Jefferies Financial Group lifted their price target on shares of Definity Financial from C$83.00 to C$91.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$83.33.

Definity Financial Trading Up 0.1%

TSE:DFY opened at C$73.27 on Thursday. Definity Financial has a one year low of C$61.87 and a one year high of C$82.59. The business has a fifty day moving average price of C$71.31 and a 200-day moving average price of C$70.78. The firm has a market capitalization of C$8.80 billion, a price-to-earnings ratio of 19.03, 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 current ratio of 1.35 and a quick ratio of 0.31.

Definity Financial (TSE:DFY) last released its earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share 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%. Sell-side analysts forecast 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 dated 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 completion of the sale, the insider owned 53,150 shares in the company, valued at approximately C$4,305,150. This trade represents a 8.28% decrease in their ownership of the stock. Insiders sold a total of 13,638 shares of company stock valued at $1,101,345 over the last three months. Corporate insiders own 0.50% of the company’s stock.

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.