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

Key Points

• Raymond James lowered its price target for Definity Financial from C$85 to C$84 while maintaining a “market perform” rating, implying about 20% upside from the prior close.
• Analyst sentiment remains moderately positive: Definity has an average “Moderate Buy” rating and a consensus target of C$83.08, with five Buy and five Hold ratings.
• The stock traded at C$70, while recent quarterly results showed C$0.97 in earnings per share and C$2.05 billion in revenue. Insiders have sold 13,638 shares over the past three months.

Definity Financial (TSE:DFY - Get Free Report) had its target price lowered by analysts at Raymond James Financial from C$85.00 to C$84.00 in a research note issued on Friday, BayStreet reports. The brokerage currently has a "market perform" rating on the stock. Raymond James Financial's price objective points to a potential upside of 20.00% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the company. Canadian Imperial Bank of Commerce increased their price objective on Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. TD lowered their target price on Definity Financial from C$93.00 to C$87.00 and set a "buy" rating for the company in a research note on Wednesday. Scotia dropped their price target on Definity Financial from C$84.00 to C$83.00 and set a "sector perform" rating on the stock in a research report on Wednesday, October 7th. RBC Dominion Securities reduced their price target on Definity Financial from C$94.00 to C$87.00 and set an "outperform" rating on the stock in a research note on Thursday. Finally, National Bank Financial increased their price objective on Definity Financial from C$94.00 to C$96.00 and gave the stock an "outperform" rating in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Definity Financial currently has an average rating of "Moderate Buy" and an average target price of C$83.08.

Definity Financial Stock Performance

Shares of Definity Financial stock traded down C$0.49 during trading hours on Friday, hitting C$70.00. 73,091 shares of the company's stock traded hands, compared to its average volume of 179,176. Definity Financial has a 12-month low of C$61.87 and a 12-month high of C$82.59. The company has a fifty day simple moving average of C$72.40 and a 200-day simple moving average of C$71.55. The stock has a market capitalization of C$8.41 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.63 and a beta of 0.10. The company has a debt-to-equity ratio of 37.12, a current ratio of 1.35 and a quick ratio of 0.31.

Definity Financial (TSE:DFY - Get Free Report) last issued 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 company had revenue of C$2.05 billion during the quarter. Equities research analysts anticipate that Definity Financial will post 3.13 EPS for the current fiscal year.

Insider Transactions 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 shares were sold at an average price of C$81.00, for a total transaction of C$388,800.00. Following the transaction, the insider directly owned 53,150 shares in the company, valued at approximately C$4,305,150. This trade represents a 8.28% decrease in their ownership of the stock. In the last three months, insiders sold 13,638 shares of company stock worth $1,101,345. 0.50% of the stock is owned by insiders.

Definity Financial Company Profile

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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