Definity Financial (TSE:DFY) Reaches New 52-Week High - Time to Buy?

Key Points

• Definity Financial reached a new 52-week high, trading as high as C$82.59 and most recently at C$82.20. The company has a market capitalization of approximately C$9.77 billion.
• Analysts have raised their price targets, with estimates ranging from C$84 to C$96. The stock has a “Moderate Buy” consensus rating and an average target of C$83.40, based on four Buy and four Hold ratings.
• Definity reported quarterly EPS of C$0.97 on revenue of C$2.05 billion, alongside an 11.45% return on equity and a 7.22% net margin. An insider recently sold 5,000 shares, while insiders collectively own 0.50% of the company.

Shares of Definity Financial Co. (TSE:DFY - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$82.59 and last traded at C$82.20, with a volume of 9279 shares changing hands. The stock had previously closed at C$81.78.

Analysts Set New Price Targets

Several analysts have recently weighed in on DFY shares. Jefferies Financial Group upped their price objective on Definity Financial from C$83.00 to C$91.00 and gave the company a "buy" rating in a report on Monday, July 27th. Canadian Imperial Bank of Commerce lifted their target price on Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. TD boosted their price target on shares of 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 boosted their price target on shares of Definity Financial from C$80.00 to C$85.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Finally, National Bank Financial upped their price target on shares of Definity Financial from C$94.00 to C$96.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$83.40.

Definity Financial Stock Down 0.6%

The stock has a market cap of C$9.77 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 2.63 and a beta of -0.05. The company's 50-day simple moving average is C$74.60 and its 200-day simple moving average is C$69.90.

Definity Financial (TSE:DFY - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.97 earnings per share (EPS) for the quarter. Definity Financial had a return on equity of 11.45% and a net margin of 7.22%.The company had revenue of C$2.05 billion for the quarter. As a group, analysts expect that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Insider Activity

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

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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