Definity Financial (TSE:DFY) Downgraded by Scotiabank to “Hold”

Scotiabank cut shares of Definity Financial (TSE:DFY) from a strong-buy rating to a hold rating in a research note released on Monday,Zacks.com reports.

Several other brokerages have also commented on DFY. TD Securities lifted their price objective on shares of Definity Financial from C$58.00 to C$59.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. National Bankshares lifted their target price on Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Desjardins boosted their price target on shares of Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Finally, Raymond James cut shares of Definity Financial from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from C$53.00 to C$55.00 in a research report on Tuesday. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Definity Financial has a consensus rating of “Hold” and an average target price of C$54.70.

Definity Financial Stock Down 0.5 %

Shares of DFY traded down C$0.27 on Monday, reaching C$56.01. The company’s stock had a trading volume of 23,524 shares, compared to its average volume of 106,182. Definity Financial has a twelve month low of C$35.48 and a twelve month high of C$58.73. The stock has a market capitalization of C$6.43 billion, a PE ratio of 17.00, a PEG ratio of 2.63 and a beta of 0.04. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38. The firm has a fifty day moving average of C$53.50 and a 200-day moving average of C$48.65.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of C$1.10 billion during the quarter, compared to the consensus estimate of C$1.10 billion. Equities analysts predict that Definity Financial will post 3.1263962 EPS for the current year.

Definity Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.14%. The ex-dividend date is Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) is currently 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.