Definity Financial Co. (TSE:DFY) Receives Consensus Recommendation of “Hold” from Brokerages

Definity Financial Co. (TSE:DFY) has been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is C$75.50.

A number of brokerages have recently issued reports on DFY. Desjardins dropped their target price on Definity Financial from C$80.00 to C$70.00 and set a “hold” rating for the company in a report on Friday, October 24th. TD Securities raised Definity Financial from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$74.00 to C$80.00 in a report on Friday. Scotiabank boosted their target price on shares of Definity Financial from C$92.00 to C$93.00 in a research note on Friday. Barclays upgraded shares of Definity Financial to a “hold” rating in a research report on Tuesday, September 30th. Finally, CIBC reduced their price target on shares of Definity Financial from C$80.00 to C$74.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd.

Definity Financial Stock Up 3.8%

TSE DFY opened at C$70.20 on Friday. Definity Financial has a twelve month low of C$52.75 and a twelve month high of C$79.95. The stock has a market cap of C$8.42 billion, a P/E ratio of 21.08, a PEG ratio of 2.63 and a beta of -0.15. The company’s 50-day simple moving average is C$69.76 and its 200 day simple moving average is C$71.88.

Insider Activity at Definity Financial

In related news, insider Liam Michael Mcfarlane sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of C$73.58, for a total value of C$257,530.00. Following the completion of the transaction, the insider owned 7,669 shares in the company, valued at C$564,285.02. The trade was a 31.34% decrease in their position. Also, Director Sonia Baxendale purchased 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was purchased at an average price of C$69.80 per share, for a total transaction of C$104,700.00. Following the acquisition, the director owned 2,250 shares of the company’s stock, valued at C$157,050. The trade was a 200.00% increase in their ownership of the stock. 0.50% of the stock is owned by insiders.

Definity Financial Company Profile

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.