Definity Financial (TSE:DFY) Shares Up 0.8% – What’s Next?

Definity Financial Co. (TSE:DFY) shares shot up 0.8% during trading on Tuesday . The stock traded as high as C$74.43 and last traded at C$74.09. 131,106 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 178,131 shares. The stock had previously closed at C$73.50.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays upped their price objective on Definity Financial from C$78.00 to C$79.00 in a research report on Friday, May 8th. National Bank Financial boosted their target price on Definity Financial from C$94.00 to C$96.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. Canadian Imperial Bank of Commerce boosted their target price on Definity Financial from C$74.00 to C$84.00 in a research report on Tuesday, July 14th. Jefferies Financial Group increased their price target on Definity Financial from C$83.00 to C$91.00 and gave the company a “buy” rating in a report on Monday, July 27th. Finally, Raymond James Financial raised their price target on Definity Financial from C$80.00 to C$85.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Definity Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$83.40.

Definity Financial Trading Up 0.8%

The stock has a market capitalization of C$8.90 billion, a P/E ratio of 19.24, a PEG ratio of 2.63 and a beta of -0.02. The stock’s fifty day moving average price is C$77.28 and its 200 day moving average price is C$70.86. The company has a debt-to-equity ratio of 37.12, a current ratio of 1.35 and a quick ratio of 0.31.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, July 30th. The company reported C$0.97 earnings per share (EPS) for the quarter. The company had revenue of C$2.05 billion during the quarter. Definity Financial had a net margin of 7.22% and a return on equity of 11.45%. Research analysts forecast that Definity Financial Co. will post 3.1263962 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Innes Fraser Dey sold 4,800 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of C$81.00, for a total transaction of C$388,800.00. Following the transaction, the insider owned 53,150 shares of the company’s stock, valued at approximately C$4,305,150. This represents a 8.28% decrease in their position. Also, insider Brigid V. Pelino sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of C$72.00, for a total value of C$360,000.00. Following the transaction, the insider owned 74,109 shares in the company, valued at approximately C$5,335,848. This represents a 6.32% decrease in their position. Insiders sold 18,638 shares of company stock valued at $1,461,345 in the last quarter. 0.50% of the stock is owned by company insiders.

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.