Definity Financial (TSE:DFY) Trading 3.6% Higher – Time to Buy?

Definity Financial Co. (TSE:DFY) shares traded up 3.6% on Monday . The company traded as high as C$59.75 and last traded at C$59.22. 135,811 shares were traded during mid-day trading, an increase of 29% from the average session volume of 105,079 shares. The stock had previously closed at C$57.15.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. National Bankshares lifted their price objective on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Cormark cut shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, October 30th. Raymond James lowered shares of Definity Financial from an “outperform” rating to a “market perform” rating and lifted their target price for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. Scotiabank lowered shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, BMO Capital Markets lifted their target price on shares of Definity Financial from C$53.00 to C$57.00 in a research report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Definity Financial has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Price 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 stock has a 50 day moving average price of C$57.41 and a 200-day moving average price of C$53.86. The stock has a market capitalization of C$6.80 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth 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. The company had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. On average, analysts forecast that Definity Financial Co. will post 3.1263962 earnings per share for the current year.

Definity Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) is currently 19.34%.

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.