Definity Financial (TSE:DFY) Trading 1.5% Higher

Definity Financial Co. (TSE:DFY)’s share price traded up 1.5% during mid-day trading on Monday . The company traded as high as C$44.12 and last traded at C$44.02. 62,101 shares were traded during mid-day trading, a decline of 40% from the average session volume of 103,774 shares. The stock had previously closed at C$43.39.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DFY. BMO Capital Markets upped their price objective on shares of Definity Financial from C$44.00 to C$48.00 and gave the stock a “market perform” rating in a research report on Monday, May 13th. Raymond James upped their price objective on shares of Definity Financial from C$46.00 to C$52.50 and gave the stock an “outperform” rating in a research report on Monday, May 13th. National Bankshares upped 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 report on Tuesday, April 30th. CIBC upped 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 report on Tuesday, April 16th. Finally, Desjardins increased their target price on shares of Definity Financial from C$44.00 to C$45.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$48.95.

Definity Financial Price Performance

The firm has a market cap of C$5.07 billion and a price-to-earnings ratio of 14.53. The business’s 50-day simple moving average is C$44.25 and its two-hundred day simple moving average is C$42.03. The company has a current ratio of 5.47, a quick ratio of 0.31 and a debt-to-equity ratio of 8.20.

Definity Financial (TSE:DFY) last posted its quarterly earnings results 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). The business had revenue of C$991.90 million for the quarter, compared to the consensus estimate of C$1 billion. Definity Financial had a return on equity of 12.27% and a net margin of 8.94%. As a group, research analysts expect that Definity Financial Co. will post 2.6896762 EPS for the current fiscal year.

Definity Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, June 13th. Definity Financial’s dividend payout ratio is currently 21.12%.

Definity Financial Company Profile

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.