Analysts Set Definity Financial Co. (TSE:DFY) Price Target at C$46.85

Definity Financial Co. (TSE:DFY) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$47.30.

A number of brokerages have recently issued reports on DFY. CIBC increased their price target on shares of Definity Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Tuesday. TD Securities raised their target price on shares of Definity Financial from C$45.00 to C$49.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Royal Bank of Canada raised their target price on shares of Definity Financial from C$48.00 to C$49.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Raymond James raised their target price on shares of Definity Financial from C$42.00 to C$46.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Finally, Cormark raised their target price on shares of Definity Financial from C$42.00 to C$43.00 in a research note on Friday, February 16th.

Definity Financial Trading Up 1.0 %

Shares of Definity Financial stock opened at C$44.39 on Friday. Definity Financial has a 12-month low of C$32.09 and a 12-month high of C$47.50. The company has a market cap of C$5.14 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.63 and a beta of 0.08. The company has a current ratio of 4.68, a quick ratio of 0.31 and a debt-to-equity ratio of 4.99. The company’s 50-day moving average price is C$44.00 and its 200-day moving average price is C$39.90.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.74 by C$0.12. Definity Financial had a net margin of 9.06% and a return on equity of 12.52%. The firm had revenue of C$1 billion for the quarter. On average, equities analysts expect that Definity Financial will post 2.7913715 earnings per share for the current fiscal year.

Definity Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.16 per share. This is a boost from Definity Financial’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Thursday, March 14th. Definity Financial’s dividend payout ratio (DPR) is presently 21.33%.

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.