Definity Financial (TSE:DFY) Sets New 1-Year High – Here’s Why

Shares of Definity Financial Co. (TSE:DFY) hit a new 52-week high on Tuesday . The company traded as high as C$58.80 and last traded at C$57.84, with a volume of 110803 shares. The stock had previously closed at C$56.93.

Wall Street Analysts Forecast Growth

DFY has been the topic of a number of recent analyst reports. National Bankshares upped their price objective on Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Scotiabank lowered Definity Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada upped their target price on Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. TD Securities upped their target price on Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a report on Friday, November 8th. Finally, Raymond James lowered Definity Financial from an “outperform” rating to a “market perform” rating and upped their target price for the company from C$53.00 to C$55.00 in a report on Tuesday, November 12th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Definity Financial presently has an average rating of “Hold” and an average target price of C$54.70.

Definity Financial Trading Up 1.2 %

The stock has a market cap of C$6.62 billion, a PE ratio of 17.20, a PEG ratio of 2.63 and a beta of 0.04. The business has a 50-day moving average of C$53.78 and a 200 day moving average of C$48.81. The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The business had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. Equities research analysts predict that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 1.11%. Definity Financial’s dividend payout ratio is presently 19.34%.

About Definity Financial

Definity Financial Corporation, together with its subsidiaries, offers property and casualty insurance products in Canada. It provides personal insurance products, including auto, property, general and umbrella liability, and pet insurance products to individuals under the Economical, Sonnet, Family, Petsecure, and Peppermint brands; and commercial insurance products, which include fleet, commercial auto, property, liability, and specialty insurance products to businesses under the Definity Insurance and Economical brand name.