Definity Financial (TSE:DFY) Reaches New 12-Month High at $50.40

Definity Financial Co. (TSE:DFY)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as C$50.40 and last traded at C$50.21, with a volume of 44286 shares trading hands. The stock had previously closed at C$49.58.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DFY. CIBC downgraded Definity Financial from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from C$47.00 to C$51.00 in a research report on Tuesday, August 6th. National Bankshares boosted their target price on shares of Definity Financial from C$60.00 to C$62.00 and gave the stock an “outperform” rating in a report on Tuesday, August 6th. Royal Bank of Canada raised their target price on shares of Definity Financial from C$58.00 to C$61.00 in a research note on Friday, August 2nd. Cormark lifted their price target on shares of Definity Financial from C$49.00 to C$51.00 in a report on Friday, July 26th. Finally, Jefferies Financial Group dropped their price objective on shares of Definity Financial from C$44.00 to C$43.00 and set a “hold” rating for the company in a report on Monday, May 13th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$52.70.

Definity Financial Stock Up 0.8 %

The business has a fifty day moving average of C$45.98 and a 200-day moving average of C$44.56. The stock has a market cap of C$5.79 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 2.63 and a beta of 0.01. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31.

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 $0.16 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.27%. Definity Financial’s dividend payout ratio (DPR) is presently 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.