Definity Financial (TSE:DFY) Lowered to "Hold" Rating by Scotiabank

Scotiabank cut shares of Definity Financial (TSE:DFY - Free Report) from a strong-buy rating to a hold rating in a report released on Monday morning,Zacks.com reports.

A number of other research analysts have also weighed in on DFY. Cormark lowered Definity Financial from a "moderate buy" rating to a "hold" rating in a report on Wednesday, October 30th. Cibc World Mkts lowered shares of Definity Financial from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Raymond James downgraded Definity Financial from an "outperform" rating to a "market perform" rating and raised their target price for the stock from C$53.00 to C$55.00 in a research note on Tuesday. BMO Capital Markets upped their target price on shares of Definity Financial from C$53.00 to C$57.00 in a report on Monday. Finally, National Bankshares raised their price target on shares of Definity Financial from C$62.00 to C$65.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$54.70.

Definity Financial Price Performance

Shares of TSE DFY traded down C$0.04 during mid-day trading on Monday, reaching C$56.24. The company had a trading volume of 102,123 shares, compared to its average volume of 106,540. The business's 50-day simple moving average is C$53.50 and its 200 day simple moving average is C$48.65. 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 has a one year low of C$35.48 and a one year high of C$58.73. The firm has a market cap of C$6.46 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported C$0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of C($0.04) by C$0.17. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The business had revenue of C$1.10 billion during the quarter, compared to analyst estimates of C$1.10 billion. On average, research analysts predict that Definity Financial will post 3.1263962 earnings per share for the current fiscal year.

Definity Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Friday, December 13th. Definity Financial's dividend payout ratio is currently 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.