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

Key Points

• Definity Financial has a “Moderate Buy” consensus among eight brokerages, split evenly between four buy ratings and four hold ratings. The average 12-month price target is C$83.40.
• DFY opened at C$80.00, near its 12-month high of C$82.59, with a market capitalization of approximately C$9.62 billion. Analysts recently raised several targets, including National Bank Financial’s increase to C$96.00.
• The company reported quarterly earnings of C$0.97 per share on revenue of C$2.05 billion, while insiders have sold 18,638 shares worth approximately C$1.46 million over the past 90 days.

Shares of Definity Financial Co. (TSE:DFY - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight brokerages that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is C$83.40.

Several equities analysts recently commented on DFY shares. Desjardins dropped their price target on shares of Definity Financial from C$75.00 to C$73.00 and set a "hold" rating for the company in a research report on Monday, April 27th. Canadian Imperial Bank of Commerce lifted their price target on shares of Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. Barclays boosted their price objective on shares of Definity Financial from C$78.00 to C$79.00 in a research note on Friday, May 8th. Raymond James Financial upped their price objective on 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. Finally, National Bank Financial increased their target price on Definity Financial from C$94.00 to C$96.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th.

Definity Financial Price Performance

DFY opened at C$80.00 on Monday. The stock has a market capitalization of C$9.62 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.63 and a beta of -0.02. The business has a 50-day moving average of C$75.49 and a two-hundred day moving average of C$70.02. Definity Financial has a 12 month low of C$61.87 and a 12 month high of C$82.59.

Definity Financial (TSE:DFY - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.97 earnings per share 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. Equities research analysts anticipate that Definity Financial will post 3.1263962 earnings per share for the current year.

Insider Buying and Selling at Definity Financial

In related news, insider Brigid V. Pelino sold 5,000 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of C$72.00, for a total value of C$360,000.00. Following the completion of the sale, the insider directly owned 74,109 shares in the company, valued at approximately C$5,335,848. This represents a 6.32% decrease in their position. Also, insider Innes Fraser Dey sold 4,800 shares of the firm's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of C$81.00, for a total value of C$388,800.00. Following the completion of the transaction, the insider directly owned 53,150 shares in the company, valued at C$4,305,150. This trade represents a 8.28% decrease in their ownership of the stock. Insiders have sold a total of 18,638 shares of company stock worth $1,461,345 in the last 90 days. Company insiders own 0.50% of the company's stock.

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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