Definity Financial (TSE:DFY) Price Target Raised to C$96.00 at National Bank Financial

Key Points

• National Bank Financial raised Definity Financial’s price target to C$96 from C$94 and maintained an “outperform” rating, implying 19.12% upside from the prior close.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and average target price of C$81.40; four analysts rate the stock Buy and four rate it Hold.
• Definity shares rose 1.6% to C$80.59, near their 52-week high of C$80.95. The insurer recently reported quarterly EPS of C$0.97 on revenue of C$1.92 billion.

Definity Financial (TSE:DFY - Get Free Report) had its price target raised by analysts at National Bank Financial from C$94.00 to C$96.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price target would indicate a potential upside of 19.12% from the stock's previous close.

A number of other equities analysts also recently issued reports on the stock. TD increased their price objective on shares of Definity Financial from C$85.00 to C$86.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Canadian Imperial Bank of Commerce increased their price target on Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Jefferies Financial Group raised their price objective on Definity Financial from C$76.00 to C$81.00 in a research note on Monday, May 4th. Barclays lifted their target price on Definity Financial from C$78.00 to C$79.00 in a report on Friday, May 8th. Finally, Desjardins reduced 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Definity Financial presently has a consensus rating of "Moderate Buy" and a consensus target price of C$81.40.

Definity Financial Trading Up 1.6%

DFY traded up C$1.29 during trading on Monday, reaching C$80.59. The company had a trading volume of 114,212 shares, compared to its average volume of 177,515. The company has a quick ratio of 0.31, a current ratio of 1.25 and a debt-to-equity ratio of 43.41. The business has a 50 day simple moving average of C$72.87 and a 200-day simple moving average of C$69.66. The stock has a market cap of C$9.69 billion, a P/E ratio of 24.87, a PEG ratio of 2.63 and a beta of -0.05. Definity Financial has a 52 week low of C$61.87 and a 52 week high of C$80.95.

Definity Financial (TSE:DFY - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported C$0.97 EPS for the quarter. Definity Financial had a return on equity of 9.82% and a net margin of 6.94%.The firm had revenue of C$1.92 billion for the quarter. On average, equities analysts anticipate that Definity Financial will post 3.1263962 EPS for the current fiscal year.

Insider Transactions at Definity Financial

In other Definity Financial news, insider Brigid V. Pelino sold 5,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$72.00, for a total transaction of C$360,000.00. Following the transaction, the insider directly owned 74,109 shares of the company's stock, valued at C$5,335,848. This trade represents a 6.32% decrease in their ownership of the stock. 0.50% of the stock is currently owned by 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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