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

Key Points

• TD cut its price target for Definity Financial from C$93 to C$87 but maintained a “buy” rating, implying roughly 27.3% upside from the reported C$68.34 share price.
• Analyst sentiment is mixed: four analysts rate the stock a Buy and five rate it Hold, resulting in a consensus “Hold” rating and an average target price of C$82.82.
• Definity reported C$0.97 in quarterly earnings per share on C$2.05 billion in revenue, while insiders sold 13,638 shares worth about C$1.1 million during the latest quarter.

Definity Financial (TSE:DFY - Get Free Report) had its price objective reduced by investment analysts at TD from C$93.00 to C$87.00 in a research note issued on Wednesday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. TD's price target would suggest a potential upside of 27.30% from the company's current price.

Several other analysts have also commented on the company. Raymond James Financial raised their price objective on Definity Financial from C$80.00 to C$85.00 and gave the company a "market perform" rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce upped their target price on Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Jefferies Financial Group increased their target price on Definity Financial from C$83.00 to C$91.00 and gave the company a "buy" rating in a research report on Monday, July 27th. National Bank Financial increased their target price on Definity Financial from C$94.00 to C$96.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Finally, Scotia dropped their price target on shares of 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. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Definity Financial currently has a consensus rating of "Hold" and a consensus target price of C$82.82.

Definity Financial Price Performance

Shares of TSE:DFY traded down C$0.56 during trading on Wednesday, reaching C$68.34. 43,051 shares of the company's stock traded hands, compared to its average volume of 179,389. Definity Financial has a fifty-two week low of C$61.87 and a fifty-two week high of C$82.59. The company has a quick ratio of 0.31, a current ratio of 1.35 and a debt-to-equity ratio of 37.12. The firm has a market cap of C$8.21 billion, a PE ratio of 17.75, a P/E/G ratio of 2.63 and a beta of 0.10. The company has a 50-day simple moving average of C$72.83 and a 200-day simple moving average of C$71.49.

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

Insider Buying and Selling at Definity Financial

In related news, insider Innes Fraser Dey sold 4,800 shares of the business's 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 completion of the sale, the insider directly owned 53,150 shares in the company, valued at approximately C$4,305,150. The trade was 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 quarter. 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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