Definity Financial (TSE:DFY) Hits New 52-Week High at $50.66

Definity Financial Co. (TSE:DFY - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as C$50.66 and last traded at C$50.36, with a volume of 60661 shares trading hands. The stock had previously closed at C$49.74.

Wall Street Analyst Weigh In

Several brokerages have commented on DFY. Cibc World Mkts cut shares of Definity Financial from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. National Bankshares boosted their price target on shares of Definity Financial from C$60.00 to C$62.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 6th. BMO Capital Markets boosted their price target on shares of Definity Financial from C$44.00 to C$48.00 and gave the stock a "market perform" rating in a research note on Monday, May 13th. CIBC cut shares of Definity Financial from an "outperform" rating to a "neutral" rating and boosted their price target for the stock from C$47.00 to C$51.00 in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group decreased their price target on shares of Definity Financial from C$44.00 to C$43.00 and set a "hold" rating on the stock in a research note on Monday, May 13th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of C$52.60.

Definity Financial Price Performance

The firm's 50-day moving average price is C$47.87 and its two-hundred day moving average price is C$45.66. The stock has a market cap of C$5.79 billion, a PE ratio of 15.03, a PEG ratio of 2.63 and a beta of 0.01. The company has a current ratio of 7.68, a quick ratio of 0.31 and a debt-to-equity ratio of 6.38.

Definity Financial (TSE:DFY - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported C$0.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of C$0.66 by C$0.28. The business had revenue of C$1.05 billion during the quarter, compared to analysts' expectations of C$1.07 billion. Definity Financial had a net margin of 9.60% and a return on equity of 13.00%. On average, equities analysts expect that Definity Financial Co. will post 2.9052876 earnings per share for the current fiscal year.

Definity Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.27%. Definity Financial's dividend payout ratio (DPR) 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.

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