Definity Financial (TSE:DFY) Reaches New 52-Week High – Here’s What Happened

Definity Financial Co. (TSE:DFY)’s share price reached a new 52-week high on Wednesday . The stock traded as high as C$82.59 and last traded at C$82.20, with a volume of 9279 shares. The stock had previously closed at C$81.78.

Analyst Ratings Changes

DFY has been the subject of several research analyst reports. Raymond James Financial boosted their price target on shares of Definity Financial from C$80.00 to C$85.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Jefferies Financial Group boosted their price objective on shares of Definity Financial from C$83.00 to C$91.00 and gave the company a “buy” rating in a research report on Monday, July 27th. National Bank Financial lifted their price target on Definity Financial from C$94.00 to C$96.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Canadian Imperial Bank of Commerce increased their price objective on Definity Financial from C$74.00 to C$84.00 in a report on Tuesday, July 14th. Finally, TD raised 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 note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Definity Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$83.40.

Definity Financial Price Performance

The firm has a market capitalization of C$9.59 billion, a P/E ratio of 20.72, a PEG ratio of 2.63 and a beta of -0.02. The firm’s 50 day moving average is C$75.21 and its two-hundred day moving average is C$69.97.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, July 30th. The company reported C$0.97 EPS for the quarter. The firm had revenue of C$2.05 billion during the quarter. Definity Financial had a net margin of 7.22% and a return on equity of 11.45%. Analysts anticipate that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Insider Buying and Selling

In other Definity Financial news, insider Innes Fraser Dey sold 4,800 shares of the firm’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total transaction of C$388,800.00. Following the completion of the sale, the insider owned 53,150 shares of the company’s stock, valued at C$4,305,150. This trade represents a 8.28% decrease in their position. Also, insider Brigid V. Pelino sold 5,000 shares of the stock in a transaction dated 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 completion of the transaction, 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 have sold a total of 18,638 shares of company stock worth $1,461,345 over the last three months. 0.50% of the stock is owned by 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.