Definity Financial (TSE:DFY) Price Target Cut to C$70.00 by Analysts at Desjardins

Key Points

• Analysts at Desjardins have reduced their price target for Definity Financial from C$80.00 to C$70.00, maintaining a "hold" rating, which indicates a potential upside of 5.50% from the current price.
• CIBC also downgraded its target price from C$80.00 to C$74.00, while National Bankshares increased its target from C$90.00 to C$92.00, showcasing differing analyst views on the stock's potential performance.
• The company's stock recently traded down by 0.5%, hitting C$66.35, while insider transactions included a notable purchase by Director Sonia Baxendale, who increased her ownership in the company significantly.

Definity Financial (TSE:DFY - Get Free Report) had its price objective reduced by investment analysts at Desjardins from C$80.00 to C$70.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Desjardins' price objective suggests a potential upside of 5.50% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. CIBC cut their target price on shares of Definity Financial from C$80.00 to C$74.00 and set a "neutral" rating for the company in a research report on Thursday. National Bankshares lifted their target price on shares of Definity Financial from C$90.00 to C$92.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Barclays raised shares of Definity Financial to a "hold" rating in a research report on Tuesday, September 30th. Finally, TD Securities cut their target price on shares of Definity Financial from C$81.00 to C$74.00 in a research report on Wednesday. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of C$73.20.

Definity Financial Trading Down 0.5%

DFY stock traded down C$0.36 during mid-day trading on Friday, hitting C$66.35. The stock had a trading volume of 62,061 shares, compared to its average volume of 173,787. Definity Financial has a 1-year low of C$52.75 and a 1-year high of C$79.95. The stock has a market capitalization of C$7.96 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.63 and a beta of -0.15. The company has a fifty day moving average of C$70.86 and a 200 day moving average of C$71.53.

Insider Transactions at Definity Financial

In other Definity Financial news, Director Sonia Baxendale acquired 1,500 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were purchased at an average cost of C$69.80 per share, for a total transaction of C$104,700.00. Following the completion of the purchase, the director owned 2,250 shares in the company, valued at approximately C$157,050. This trade represents a 200.00% increase in their ownership of the stock. Also, insider Liam Michael Mcfarlane sold 3,500 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of C$73.58, for a total transaction of C$257,530.00. Following the completion of the transaction, the insider directly owned 7,669 shares of the company's stock, valued at approximately C$564,285.02. This represents a 31.34% decrease in their position. 0.50% of the stock is 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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