Definity Financial (TSE:DFY) Stock Price Target Cut by National Bank Financial

Key Points

• National Bank Financial lowered Definity Financial’s price target from C$96 to C$92 while maintaining an “outperform” rating, implying roughly 29.2% upside from the prior close.
• Analyst sentiment remains positive overall, with five Buy ratings and four Holds; MarketBeat’s consensus is “Moderate Buy” with an average target of C$82.75.
• Definity shares closed at C$71.21, while insiders have sold 13,638 shares worth approximately C$1.1 million over the past 90 days.

Definity Financial (TSE:DFY - Get Free Report) had its price target decreased by investment analysts at National Bank Financial from C$96.00 to C$92.00 in a report released on Wednesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 29.20% from the company's previous close.

Other equities analysts have also issued reports about the company. Scotia decreased their price target on Definity Financial from C$84.00 to C$83.00 and set a "sector perform" rating for the company in a research note on Wednesday, October 7th. Canadian Imperial Bank of Commerce boosted their price objective on Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Jefferies Financial Group upped their price objective on Definity Financial from C$83.00 to C$91.00 and gave the company a "buy" rating in a report on Monday, July 27th. RBC Dominion Securities decreased their target price on 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. Finally, TD lowered their target price on Definity Financial from C$93.00 to C$87.00 and set a "buy" rating on the stock in a report on Wednesday, October 14th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$82.75.

Definity Financial Price Performance

DFY traded down C$0.06 on Wednesday, reaching C$71.21. The company had a trading volume of 44,115 shares, compared to its average volume of 177,456. The company has a fifty day moving average of C$71.45 and a 200-day moving average of C$70.83. The company has a market capitalization of C$8.55 billion, a P/E ratio of 18.50, a PEG ratio of 2.63 and a beta of 0.10. Definity Financial has a one year low of C$61.87 and a one year high of C$82.59. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 37.12.

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

Insiders Place Their Bets

In other Definity Financial news, insider Innes Fraser Dey sold 4,800 shares of the company's stock in a transaction on 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 have sold 13,638 shares of company stock worth $1,101,345 in the last ninety days. 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.

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