Definity Financial (TSE:DFY) Given New C$87.00 Price Target at RBC Dominion Securities

Definity Financial (TSE:DFY) had its price objective reduced by equities research analysts at RBC Dominion Securities from C$94.00 to C$87.00 in a research note issued on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. RBC Dominion Securities’ target price would suggest a potential upside of 23.58% from the company’s current price.

Several other analysts have also recently commented on DFY. Jefferies Financial Group raised their target price on 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. Canadian Imperial Bank of Commerce boosted their price target on Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. National Bank Financial increased their price target on Definity Financial from C$94.00 to C$96.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Scotia lowered their price target on Definity Financial from C$84.00 to C$83.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 7th. Finally, TD lowered their price target on Definity Financial from C$93.00 to C$87.00 and set a “buy” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$83.17.

Definity Financial Stock Performance

Shares of TSE:DFY traded up C$1.95 during trading hours on Thursday, hitting C$70.40. The stock had a trading volume of 101,628 shares, compared to its average volume of 179,417. The stock’s fifty day simple moving average is C$72.58 and its 200 day simple moving average is C$71.51. The firm has a market capitalization of C$8.46 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.63 and a beta of 0.10. The company has a debt-to-equity ratio of 37.12, a quick ratio of 0.31 and a current ratio of 1.35. Definity Financial has a 1-year low of C$61.87 and a 1-year high of C$82.59.

Definity Financial (TSE:DFY) last issued its quarterly earnings data 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 business had revenue of C$2.05 billion during the quarter. Sell-side analysts anticipate that Definity Financial will post 3.13 earnings per share for the current fiscal year.

Insider Activity at Definity Financial

In related news, insider Innes Fraser Dey sold 4,800 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were 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 directly owned 53,150 shares of the company’s stock, valued at C$4,305,150. This represents a 8.28% decrease in their ownership of the stock. In the last 90 days, insiders have sold 13,638 shares of company stock valued at $1,101,345. 0.50% of the stock is 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.