Definity Financial (TSE:DFY) Trading 0.2% Higher - Here's Why

Definity Financial Co. (TSE:DFY - Get Free Report) rose 0.2% during trading on Wednesday . The company traded as high as C$56.50 and last traded at C$56.28. Approximately 121,437 shares changed hands during trading, an increase of 45% from the average daily volume of 83,864 shares. The stock had previously closed at C$56.15.

Analysts Set New Price Targets

Several research firms have weighed in on DFY. Raymond James downgraded shares of Definity Financial from an "outperform" rating to a "market perform" rating and boosted their price target for the stock from C$53.00 to C$55.00 in a research note on Tuesday, November 12th. BMO Capital Markets increased their target price on Definity Financial from C$53.00 to C$57.00 in a report on Monday, November 11th. TD Securities raised their price target on Definity Financial from C$58.00 to C$59.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Scotiabank downgraded Definity Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Cormark cut shares of Definity Financial from a "moderate buy" rating to a "hold" rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Definity Financial has an average rating of "Hold" and a consensus target price of C$54.70.

Definity Financial Stock Down 0.7 %

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The stock's 50-day moving average price is C$57.42 and its two-hundred day moving average price is C$52.52. The stock has a market capitalization of C$6.42 billion, a PE ratio of 16.89, a P/E/G ratio of 2.63 and a beta of 0.04.

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 return on equity of 13.00% and a net margin of 9.60%. The company had revenue of C$1.10 billion during the quarter, compared to analyst estimates of C$1.10 billion. As a group, analysts expect that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Definity Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.64 annualized dividend and a yield of 1.14%. Definity Financial's dividend payout ratio is 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.