Definity Financial Co. (TSE:DFY) Announces Quarterly Dividend of $0.16

Definity Financial Co. (TSE:DFY - Get Free Report) announced a quarterly dividend on Thursday, November 7th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.16 per share on Friday, December 27th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Friday, December 13th.

Definity Financial Stock Down 1.2 %

Shares of DFY stock traded down C$0.66 on Friday, hitting C$54.81. The stock had a trading volume of 242,299 shares, compared to its average volume of 106,042. The stock's 50 day moving average is C$53.04 and its 200-day moving average is C$48.33. The firm has a market capitalization of C$6.30 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 2.63 and a beta of 0.04. Definity Financial has a 52-week low of C$35.48 and a 52-week high of C$58.73. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating analysts' consensus estimates of C($0.04) by C$0.17. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. The company had revenue of C$1.10 billion during the quarter, compared to analysts' expectations of C$1.10 billion. As a group, research analysts expect that Definity Financial will post 3.1263962 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DFY. Raymond James raised their price objective on Definity Financial from C$55.00 to C$58.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Definity Financial from C$58.00 to C$61.00 in a report on Friday, August 2nd. CIBC lowered shares of Definity Financial from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from C$47.00 to C$51.00 in a report on Tuesday, August 6th. Cormark downgraded shares of Definity Financial from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, October 30th. Finally, Cibc World Mkts cut shares of Definity Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Definity Financial currently has a consensus rating of "Hold" and an average price target of C$54.10.

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.