Definity Financial (TSE:DFY) Sets New 1-Year High – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DFY shares. National Bankshares boosted their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. CIBC cut Definity Financial from an “outperform” rating to a “neutral” rating and upped their price objective for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. BMO Capital Markets raised their target price on Definity Financial from C$53.00 to C$57.00 in a research report on Monday, November 11th. Scotiabank downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Raymond James lowered shares of Definity Financial from an “outperform” rating to a “market perform” rating and upped their price target for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Definity Financial has an average rating of “Hold” and an average price target of C$54.70.

Definity Financial Price Performance

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The company has a market cap of C$6.75 billion, a P/E ratio of 17.75, a P/E/G ratio of 2.63 and a beta of 0.04. The firm’s fifty day moving average is C$54.83 and its two-hundred day moving average is C$49.34.

Definity Financial (TSE:DFY) last released its 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 firm had revenue of C$1.10 billion during the quarter, compared to analysts’ expectations of C$1.10 billion. As a group, analysts anticipate that Definity Financial Co. will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.09%. Definity Financial’s dividend payout ratio is 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.