Definity Financial (TSE:DFY) Trading Up 0.2% – Here’s What Happened

Definity Financial Co. (TSE:DFY)’s stock price shot up 0.2% during trading on Wednesday . The stock traded as high as C$56.50 and last traded at C$56.28. 121,437 shares were traded during trading, an increase of 45% from the average session volume of 83,864 shares. The stock had previously closed at C$56.15.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DFY. National Bankshares increased their target price on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Scotiabank downgraded Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. TD Securities boosted their target price on 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. Raymond James cut Definity Financial from an “outperform” rating to a “market perform” rating and raised their price target for the company from C$53.00 to C$55.00 in a report on Tuesday, November 12th. Finally, Cormark lowered Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Stock Performance

The company has a quick ratio of 0.31, a current ratio of 7.68 and a debt-to-equity ratio of 6.38. The business has a fifty day moving average of C$57.40 and a 200 day moving average of C$52.43. The company has a market cap of C$6.47 billion, a P/E ratio of 17.00, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last posted its earnings results 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. The firm had revenue of C$1.10 billion for the quarter, compared to the consensus estimate of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, equities analysts predict that Definity Financial Co. will post 3.1263962 EPS for the current year.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.64 dividend on an annualized basis and a yield of 1.14%. 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.