Definity Financial (TSE:DFY) Reaches New 52-Week High at $55.53

Definity Financial Co. (TSE:DFY)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$55.53 and last traded at C$55.27, with a volume of 5496 shares changing hands. The stock had previously closed at C$55.01.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. TD Securities raised their target price on shares of Definity Financial from C$52.00 to C$55.00 in a research report on Friday, September 20th. Cormark lifted their price target on Definity Financial from C$49.00 to C$51.00 in a research report on Friday, July 26th. Royal Bank of Canada increased their price objective on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. National Bankshares increased their price target on shares of Definity Financial from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 6th. Finally, CIBC cut shares of Definity Financial from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of C$53.10.

Definity Financial Trading Down 0.4 %

The firm has a market capitalization of C$6.30 billion, a PE ratio of 16.61, a P/E/G ratio of 2.63 and a beta of 0.01. The firm has a 50 day simple moving average of C$49.34 and a 200 day simple moving average of C$46.15. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, August 1st. The company reported C$0.94 EPS for the quarter, beating the consensus estimate of C$0.66 by C$0.28. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The company had revenue of C$1.05 billion for the quarter, compared to analysts’ expectations of C$1.07 billion. Equities analysts expect that Definity Financial Co. will post 3.1420256 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. Definity Financial’s payout ratio is 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.