Definity Financial (TSE:DFY) Stock Rating Upgraded by TD Securities

Definity Financial (TSE:DFY) was upgraded by equities researchers at TD Securities from a “hold” rating to a “buy” rating in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a C$80.00 price target on the stock, up from their previous price target of C$74.00. TD Securities’ target price indicates a potential upside of 13.96% from the stock’s current price.

A number of other equities analysts have also recently issued reports on DFY. CIBC decreased their target price on Definity Financial from C$80.00 to C$74.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Desjardins dropped their price target on Definity Financial from C$80.00 to C$70.00 and set a “hold” rating on the stock in a research note on Friday, October 24th. Barclays upgraded Definity Financial to a “hold” rating in a report on Tuesday, September 30th. National Bankshares raised their target price on shares of Definity Financial from C$90.00 to C$92.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Finally, Scotiabank boosted their price target on shares of Definity Financial from C$92.00 to C$93.00 in a report on Friday. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of C$75.50.

Definity Financial Stock Up 3.8%

TSE:DFY traded up C$2.55 during trading hours on Friday, reaching C$70.20. 416,293 shares of the company’s stock were exchanged, compared to its average volume of 175,170. The company has a market capitalization of C$8.42 billion, a P/E ratio of 21.08, a price-to-earnings-growth ratio of 2.63 and a beta of -0.15. Definity Financial has a 12 month low of C$52.75 and a 12 month high of C$79.95. The business’s 50-day simple moving average is C$69.78 and its two-hundred day simple moving average is C$71.84.

Insider Transactions at Definity Financial

In other news, insider Liam Michael Mcfarlane sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of C$73.58, for a total value of C$257,530.00. Following the completion of the sale, the insider directly owned 7,669 shares of the company’s stock, valued at C$564,285.02. This represents a 31.34% decrease in their ownership of the stock. Also, Director Sonia Baxendale purchased 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were bought at an average price of C$69.80 per share, with a total value of C$104,700.00. Following the completion of the acquisition, the director owned 2,250 shares of the company’s stock, valued at C$157,050. This trade represents a 200.00% increase in their position. 0.50% of the stock is owned by corporate insiders.

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.