Scotiabank Issues Positive Forecast for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price target raised by analysts at Scotiabank from C$92.00 to C$93.00 in a research note issued to investors on Friday,BayStreet.CA reports. Scotiabank’s price target points to a potential upside of 32.48% from the stock’s current price.

Other research analysts have also recently issued reports about the company. CIBC lowered their target price on Definity Financial from C$80.00 to C$74.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. TD Securities lowered their price objective on Definity Financial from C$81.00 to C$74.00 in a research report on Wednesday, October 22nd. National Bankshares upped their target price on shares of Definity Financial from C$90.00 to C$92.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Desjardins decreased their price target on shares of Definity Financial from C$80.00 to C$70.00 and set a “hold” rating for the company in a research note on Friday, October 24th. Finally, Barclays upgraded shares of Definity Financial to a “hold” rating in a research note on Tuesday, September 30th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$75.50.

Definity Financial Stock Performance

Shares of TSE:DFY traded up C$2.55 during trading on Friday, hitting C$70.20. The company’s stock had a trading volume of 416,293 shares, compared to its average volume of 175,170. Definity Financial has a fifty-two week low of C$52.75 and a fifty-two week high of C$79.95. The business has a 50 day moving average price of C$69.78 and a two-hundred day moving average price of C$71.84. The company has a market capitalization of C$8.42 billion, a PE ratio of 21.08, a P/E/G ratio of 2.63 and a beta of -0.15.

Insider Activity at Definity Financial

In related news, Director Sonia Baxendale acquired 500 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were bought at an average price of C$69.00 per share, with a total value of C$34,500.00. Following the completion of the acquisition, the director owned 750 shares in the company, valued at C$51,750. This trade represents a 200.00% increase in their ownership of the stock. Also, insider Liam Michael Mcfarlane sold 3,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of C$73.58, for a total transaction of C$257,530.00. Following the sale, the insider owned 7,669 shares of the company’s stock, valued at C$564,285.02. This represents a 31.34% decrease in their position. 0.50% of the stock is owned by insiders.

Definity Financial Company Profile

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.