Definity Financial (TSE:DFY) Sets New 1-Year High – Here’s What Happened

Definity Financial Co. (TSE:DFY)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$58.80 and last traded at C$57.84, with a volume of 110803 shares traded. The stock had previously closed at C$56.93.

Wall Street Analyst Weigh In

DFY has been the topic of a number of research reports. BMO Capital Markets raised their price objective on Definity Financial from C$53.00 to C$57.00 in a report on Monday, November 11th. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Cormark downgraded Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Royal Bank of Canada raised their target price on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. Finally, TD Securities raised their target price on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Stock Up 0.4 %

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The firm has a fifty day simple moving average of C$54.10 and a 200-day simple moving average of C$48.98. The company has a market capitalization of C$6.83 billion, a PE ratio of 17.88, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.04) by C$0.17. The company had revenue of C$1.10 billion for the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Equities research analysts anticipate that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.08%. Definity Financial’s dividend payout ratio is currently 19.34%.

About Definity Financial

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.