Definity Financial (TSE:DFY) Issues Earnings Results

Definity Financial (TSE:DFY) issued its quarterly earnings data on Thursday. The company reported C$0.97 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of C$2.05 billion for the quarter. Definity Financial had a return on equity of 9.82% and a net margin of 6.94%.

Definity Financial Trading Down 0.9%

TSE:DFY traded down C$0.70 during midday trading on Thursday, hitting C$78.51. 260,136 shares of the company traded hands, compared to its average volume of 179,269. The firm has a market capitalization of C$9.44 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.63 and a beta of -0.05. The firm’s fifty day moving average is C$73.59 and its 200-day moving average is C$69.77. Definity Financial has a 12-month low of C$61.87 and a 12-month high of C$81.99. The company has a current ratio of 1.25, a quick ratio of 0.31 and a debt-to-equity ratio of 43.41.

Insider Buying and Selling

In related news, insider Brigid V. Pelino sold 5,000 shares of Definity Financial stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of C$72.00, for a total transaction of C$360,000.00. Following the completion of the transaction, the insider directly owned 74,109 shares of the company’s stock, valued at approximately C$5,335,848. The trade was a 6.32% decrease in their position. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. TD raised their target price on shares of Definity Financial from C$85.00 to C$86.00 and gave the company a “buy” rating in a report on Friday, May 8th. Canadian Imperial Bank of Commerce increased their price objective on shares of Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. Jefferies Financial Group lifted their price objective on shares of Definity Financial from C$83.00 to C$91.00 and gave the stock a “buy” rating in a research note on Monday. National Bank Financial boosted their target price on shares of Definity Financial from C$94.00 to C$96.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Barclays upped their target price on shares of Definity Financial from C$78.00 to C$79.00 in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$81.40.

About Definity Financial

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