Definity Financial (TSE:DFY) Stock Gets Price Target Cut from Desjardins

Key Points

• Desjardins cut Definity Financial’s price target to C$80 from C$85 while maintaining a “hold” rating, implying approximately 9.95% upside from the prior close.
• Analyst sentiment remains generally positive but has softened: five analysts rate the stock “buy” and four rate it “hold,” producing a consensus “Moderate Buy” rating and an average target of C$83.33.
• DFY shares traded at C$72.76, up C$1.60, with the company reporting C$0.97 in quarterly EPS and C$2.05 billion in revenue in its latest results.

Definity Financial (TSE:DFY - Get Free Report) had its price objective lowered by stock analysts at Desjardins from C$85.00 to C$80.00 in a research report issued on Thursday, BayStreet reports. The firm presently has a "hold" rating on the stock. Desjardins's price objective points to a potential upside of 9.95% from the company's previous close.

DFY has been the topic of several other research reports. Raymond James Financial decreased their price target on Definity Financial from C$85.00 to C$84.00 and set a "market perform" rating on the stock in a report on Friday, October 16th. Scotia lowered their price target on shares of Definity Financial from C$84.00 to C$83.00 and set a "sector perform" rating for the company in a research report on Wednesday, October 7th. RBC Dominion Securities dropped their price target on shares of Definity Financial from C$94.00 to C$87.00 and set an "outperform" rating for the company in a research note on Thursday, October 15th. TD dropped their price target on shares of Definity Financial from C$93.00 to C$87.00 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Finally, National Bank Financial cut their price objective on shares of Definity Financial from C$96.00 to C$92.00 and set an "outperform" rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of C$83.33.

Definity Financial Price Performance

Shares of DFY stock traded up C$1.60 during trading hours on Thursday, reaching C$72.76. 40,952 shares of the company were exchanged, compared to its average volume of 177,174. The company has a debt-to-equity ratio of 37.12, a current ratio of 1.35 and a quick ratio of 0.31. The company has a market cap of C$8.74 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 2.63 and a beta of 0.10. The stock's fifty day moving average is C$71.35 and its two-hundred day moving average is C$70.81. Definity Financial has a fifty-two week low of C$61.87 and a fifty-two week high of C$82.59.

Definity Financial (TSE:DFY - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.97 EPS for the quarter. The firm had revenue of C$2.05 billion for the quarter. Definity Financial had a return on equity of 11.45% and a net margin of 7.22%. Sell-side analysts forecast that Definity Financial will post 3.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Definity Financial news, insider Innes Fraser Dey sold 4,800 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total value of C$388,800.00. Following the transaction, the insider owned 53,150 shares of the company's stock, valued at approximately C$4,305,150. This represents a 8.28% decrease in their ownership of the stock. Insiders sold a total of 13,638 shares of company stock valued at $1,101,345 in the last ninety days. Corporate 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.

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