Definity Financial (TSE:DFY) Reaches New 12-Month High – Here’s Why

Definity Financial Co. (TSE:DFY) reached a new 52-week high on Monday . The stock traded as high as C$60.14 and last traded at C$60.06, with a volume of 300 shares trading hands. The stock had previously closed at C$59.97.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on DFY shares. Raymond James lowered Definity Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. TD Securities lifted their price target on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a research report on Friday, November 8th. CIBC lowered Definity Financial from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. Royal Bank of Canada lifted their price target on Definity Financial from C$58.00 to C$61.00 in a research report on Friday, August 2nd. Finally, BMO Capital Markets boosted their target price on Definity Financial from C$53.00 to C$57.00 in a report on Monday, November 11th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Definity Financial has an average rating of “Hold” and a consensus price target of C$54.70.

Definity Financial Stock Performance

The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The business has a 50-day simple moving average of C$54.47 and a 200 day simple moving average of C$49.17. The firm has a market cap of C$6.85 billion, a PE ratio of 18.12, a PEG ratio of 2.63 and a beta of 0.04.

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

Definity Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Friday, December 13th. Definity Financial’s payout ratio is presently 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.