Jefferies Financial Group Forecasts Strong Price Appreciation for Definity Financial (TSE:DFY) Stock

Key Points

• Jefferies raised Definity Financial’s price target to C$91 from C$83 and maintained a “buy” rating, implying 12.92% potential upside. Analysts’ consensus view is “Moderate Buy,” with an average target of C$81.40.
• Definity shares gained 1.6% to C$80.59, near their 52-week high of C$80.95. The company reported quarterly earnings of C$0.97 per share on C$1.92 billion in revenue.
• Analyst sentiment is mixed but generally positive, with four buy ratings and four holds; National Bank Financial has the highest target at C$96. An insider recently sold 5,000 shares for C$360,000.

Definity Financial (TSE:DFY - Get Free Report) had its price target hoisted by equities researchers at Jefferies Financial Group from C$83.00 to C$91.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's target price would indicate a potential upside of 12.92% from the stock's previous close.

Other research analysts have also issued research reports about the stock. TD upped 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. Barclays lifted their target price on shares of Definity Financial from C$78.00 to C$79.00 in a research note on Friday, May 8th. Desjardins lowered their price target on shares of Definity Financial from C$75.00 to C$73.00 and set a "hold" rating on the stock in a report on Monday, April 27th. Canadian Imperial Bank of Commerce upped their price target on shares of Definity Financial from C$74.00 to C$84.00 in a research note on Tuesday, July 14th. Finally, National Bank Financial increased their price objective on Definity Financial from C$94.00 to C$96.00 and gave the stock an "outperform" rating in a report on Monday. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of C$81.40.

Definity Financial Stock Up 1.6%

TSE DFY traded up C$1.29 during trading on Monday, reaching C$80.59. 114,212 shares of the company's stock were exchanged, compared to its average volume of 177,515. The company has a current ratio of 1.25, a quick ratio of 0.31 and a debt-to-equity ratio of 43.41. Definity Financial has a fifty-two week low of C$61.87 and a fifty-two week high of C$80.95. The company's fifty day simple moving average is C$72.87 and its 200-day simple moving average is C$69.66. The firm has a market capitalization of C$9.69 billion, a PE ratio of 24.87, a P/E/G ratio of 2.63 and a beta of -0.05.

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

Insiders Place Their Bets

In other Definity Financial news, insider Brigid V. Pelino sold 5,000 shares of Definity Financial stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 C$5,335,848. The trade was a 6.32% decrease in their ownership of the stock. Insiders own 0.50% of the company's stock.

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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