Definity Financial (TSE:DFY) Price Target Cut to C$72.00 by Analysts at Raymond James Financial

Definity Financial (TSE:DFY) had its price objective reduced by analysts at Raymond James Financial from C$74.00 to C$72.00 in a report released on Friday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. Raymond James Financial’s target price would indicate a potential upside of 6.30% from the company’s previous close.

DFY has been the subject of a number of other reports. Desjardins decreased their price objective on Definity Financial from C$80.00 to C$70.00 and set a “hold” rating for the company in a research note on Friday, October 24th. National Bank Financial increased their price target on shares of Definity Financial from C$92.00 to C$93.00 in a research report on Monday, November 10th. Jefferies Financial Group set a C$88.00 price target on shares of Definity Financial and gave the stock a “buy” rating in a report on Wednesday, January 7th. Scotiabank upped their price objective on shares of Definity Financial from C$65.00 to C$80.00 in a report on Friday, January 30th. Finally, TD Securities raised Definity Financial from a “hold” rating to a “buy” rating and upped their target price for the company from C$74.00 to C$80.00 in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$78.27.

Definity Financial Trading Up 1.8%

Shares of DFY traded up C$1.22 during mid-day trading on Friday, hitting C$67.73. The company’s stock had a trading volume of 260,647 shares, compared to its average volume of 199,964. The company’s 50-day moving average is C$72.48 and its 200-day moving average is C$71.33. Definity Financial has a 52-week low of C$57.25 and a 52-week high of C$79.95. The firm has a market capitalization of C$8.12 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 2.63 and a beta of -0.16.

Definity Financial (TSE:DFY) last issued its quarterly earnings data on Thursday, February 12th. The company reported C$0.99 EPS for the quarter. The company had revenue of C$1.10 billion during the quarter. Definity Financial had a net margin of 12.32% and a return on equity of 18.19%. As a group, sell-side analysts predict that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Insider Activity at Definity Financial

In related news, insider Craig Edward David Richardson sold 1,881 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of C$70.80, for a total transaction of C$133,174.80. Following the sale, the insider directly owned 7 shares of the company’s stock, valued at C$495.60. This trade represents a 99.63% decrease in their ownership of the stock. 0.50% of the stock is owned by 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.