Definity Financial Co. (TSE:DFY) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Definity Financial has a “Moderate Buy” consensus rating from eight analysts, split evenly between four buy and four hold recommendations. The average 12-month price target is C$83.40, above the reported opening price of C$70.34.
• Several brokerages raised their price targets, including National Bank Financial to C$96, Jefferies to C$91, TD to C$93, and Raymond James to C$85.
• Definity reported quarterly EPS of C$0.97 on C$2.05 billion in revenue, while insiders sold 13,638 shares worth approximately C$1.1 million over the past 90 days.

Shares of Definity Financial Co. (TSE:DFY - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight ratings firms that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is C$83.40.

A number of equities research analysts have recently commented on DFY shares. National Bank Financial increased their price objective 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. Jefferies Financial Group boosted their target price on Definity Financial from C$83.00 to C$91.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. TD boosted their target price on Definity Financial from C$89.00 to C$93.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Raymond James Financial upped their target price 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. Finally, Canadian Imperial Bank of Commerce increased their price target on Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th.

Insiders Place Their Bets

In related 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 completion of the sale, the insider owned 53,150 shares in the company, valued at C$4,305,150. This represents a 8.28% decrease in their position. In the last ninety days, insiders sold 13,638 shares of company stock worth $1,101,345. 0.50% of the stock is owned by corporate insiders.

Definity Financial Price Performance

Shares of TSE DFY opened at C$70.34 on Tuesday. The firm has a market capitalization of C$8.45 billion, a P/E ratio of 18.27, a PEG ratio of 2.63 and a beta of -0.01. Definity Financial has a one year low of C$61.87 and a one year high of C$82.59. The company's fifty day moving average is C$75.30 and its two-hundred day moving average is C$71.45. The company has a debt-to-equity ratio of 37.12, a quick ratio of 0.31 and a current ratio of 1.35.

Definity Financial (TSE:DFY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share for the quarter. The company 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%. Analysts forecast that Definity Financial will post 3.1263962 EPS for the current fiscal year.

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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