Definity Financial Co. (TSE:DFY) Plans $0.16 Quarterly Dividend

Definity Financial Co. (TSE:DFY) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Investors of record on Friday, September 13th will be given a dividend of 0.16 per share on Friday, September 27th. This represents a $0.64 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, September 13th.

Definity Financial Price Performance

Shares of Definity Financial stock traded up C$2.68 during trading on Friday, reaching C$49.80. 322,712 shares of the stock traded hands, compared to its average volume of 99,614. The company has a debt-to-equity ratio of 8.20, a current ratio of 5.47 and a quick ratio of 0.31. The company has a market capitalization of C$5.74 billion and a price-to-earnings ratio of 16.44. Definity Financial has a 52-week low of C$32.09 and a 52-week high of C$50.23. The business has a fifty day simple moving average of C$44.80 and a two-hundred day simple moving average of C$43.80.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, May 9th. The company reported C$0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.72 by C($0.07). Definity Financial had a return on equity of 12.27% and a net margin of 8.94%. The firm had revenue of C$991.90 million during the quarter, compared to the consensus estimate of C$1 billion. Sell-side analysts expect that Definity Financial will post 2.6896762 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. CIBC lifted their price objective on shares of Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Royal Bank of Canada raised their price objective on Definity Financial from C$58.00 to C$61.00 in a research note on Friday. Cormark boosted their target price on Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. National Bankshares lifted their price objective on shares of Definity Financial from C$59.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Finally, Scotiabank lifted their price target on shares of Definity Financial from C$51.00 to C$52.00 in a research note on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Definity Financial has an average rating of “Moderate Buy” and a consensus target price of C$51.35.

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.