Raymond James Financial Has Lowered Expectations for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price target cut by analysts at Raymond James Financial from C$74.00 to C$72.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the stock. Raymond James Financial’s price objective would suggest a potential upside of 6.12% from the stock’s previous close.

Several other equities analysts have also issued reports on DFY. Scotiabank boosted their price target on Definity Financial from C$65.00 to C$80.00 in a research note on Friday, January 30th. BMO Capital Markets increased their target price on shares of Definity Financial from C$68.00 to C$73.00 in a research note on Monday, November 10th. Barclays raised their price target on shares of Definity Financial from C$80.00 to C$81.00 and gave the stock an “equal weight” rating in a report on Friday. National Bank Financial upped their price objective on shares of Definity Financial from C$92.00 to C$93.00 in a report on Monday, November 10th. Finally, TD Securities upgraded Definity Financial from a “hold” rating to a “buy” rating and raised their target price for the company from C$74.00 to C$80.00 in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Definity Financial presently has a consensus rating of “Hold” and an average target price of C$78.27.

Definity Financial Stock Up 2.0%

DFY opened at C$67.85 on Friday. The stock has a market cap of C$8.14 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 2.63 and a beta of -0.16. Definity Financial has a twelve month low of C$57.25 and a twelve month high of C$79.95. The company has a fifty day moving average of C$72.43 and a 200-day moving average of C$71.21.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, February 12th. The company reported C$0.99 earnings per share for the quarter. Definity Financial had a return on equity of 18.19% and a net margin of 12.32%.The firm had revenue of C$1.10 billion during the quarter. Sell-side analysts anticipate that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Insider Transactions at Definity Financial

In related news, insider Craig Edward David Richardson sold 1,881 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of C$70.80, for a total value of C$133,174.80. Following the completion of the sale, the insider directly owned 7 shares of the company’s stock, valued at approximately C$495.60. This represents a 99.63% decrease in their position. Company insiders own 0.50% of the company’s stock.

About Definity Financial

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