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

Definity Financial (TSE:DFY) had its price target lowered by Scotia from C$84.00 to C$83.00 in a note issued to investors on Wednesday, BayStreet reports. The firm presently has a “sector perform” rating on the stock. Scotia’s price target would indicate a potential upside of 24.38% from the stock’s current price.

Several other equities research analysts have also issued reports on DFY. TD lifted their price objective on shares of Definity Financial from C$89.00 to C$93.00 and gave the company a “buy” rating in a research note on Friday, July 31st. National Bank Financial raised their target price on Definity Financial from C$94.00 to C$96.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Jefferies Financial Group boosted their price target on Definity Financial from C$83.00 to C$91.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce increased their price objective on Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. Finally, Raymond James Financial raised their price objective on Definity Financial from C$80.00 to C$85.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of C$83.36.

Definity Financial Stock Down 0.1%

DFY stock traded down C$0.04 during mid-day trading on Wednesday, hitting C$66.73. The stock had a trading volume of 129,346 shares, compared to its average volume of 179,094. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 37.12. Definity Financial has a 1-year low of C$61.87 and a 1-year high of C$82.59. The company has a fifty day moving average of C$74.05 and a 200 day moving average of C$71.47. The stock has a market capitalization of C$8.02 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 2.63 and a beta of 0.10.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share (EPS) for the quarter. The business had revenue of C$2.05 billion during the quarter. Definity Financial had a return on equity of 11.45% and a net margin of 7.22%. On average, equities analysts expect that Definity Financial will post 3.1263962 EPS for the current fiscal 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 that occurred on 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 C$4,305,150. This represents a 8.28% decrease in their position. Over the last ninety days, insiders sold 13,638 shares of company stock worth $1,101,345. 0.50% of the stock is currently 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.