Definity Financial (TSE:DFY) Stock Price Target Cut by RBC Dominion Securities

Key Points

• RBC Dominion Securities lowered Definity Financial’s price target to C$87 from C$94 while maintaining an “outperform” rating, implying 23.58% potential upside.
• Analyst sentiment remains positive overall, with five Buy and five Hold ratings; the stock has an average rating of “Moderate Buy” and an average price target of C$83.17.
• Definity shares rose 2.8% to C$70.40, while insiders sold 13,638 shares worth about C$1.1 million over the past three months.

Definity Financial (TSE:DFY - Get Free Report) had its price target dropped by equities research analysts at RBC Dominion Securities from C$94.00 to C$87.00 in a note issued to investors on Thursday, BayStreet reports. The firm currently has an "outperform" rating on the stock. RBC Dominion Securities' target price indicates a potential upside of 23.58% from the stock's current price.

Several other equities analysts have also recently issued reports on DFY. Scotia reduced their price objective on Definity Financial from C$84.00 to C$83.00 and set a "sector perform" rating on the stock in a research note on Wednesday, October 7th. Raymond James Financial lifted their price objective on shares of Definity Financial from C$80.00 to C$85.00 and gave the stock a "market perform" rating in a report on Friday, July 31st. TD lowered their target price 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. Jefferies Financial Group boosted their target price on shares of Definity Financial from C$83.00 to C$91.00 and gave the company a "buy" rating in a research note on Monday, July 27th. Finally, Canadian Imperial Bank of Commerce increased their target price on shares of Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Definity Financial presently has an average rating of "Moderate Buy" and an average price target of C$83.17.

Definity Financial Stock Up 2.8%

TSE DFY traded up C$1.95 on Thursday, hitting C$70.40. 101,628 shares of the stock traded hands, compared to its average volume of 179,417. The company has a current ratio of 1.35, a quick ratio of 0.31 and a debt-to-equity ratio of 37.12. The stock has a 50-day moving average of C$72.58 and a 200 day moving average of C$71.51. Definity Financial has a twelve month low of C$61.87 and a twelve month high of C$82.59. The company has a market capitalization of C$8.46 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 2.63 and a beta of 0.10.

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

Insider Activity at Definity Financial

In other news, insider Innes Fraser Dey sold 4,800 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total transaction of C$388,800.00. Following the sale, the insider directly owned 53,150 shares in the company, valued at approximately C$4,305,150. This represents a 8.28% decrease in their position. Insiders sold 13,638 shares of company stock worth $1,101,345 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

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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