Definity Financial (TSE:DFY) Price Target Raised to C$47.00 at CIBC

Definity Financial (TSE:DFY) had its price objective increased by CIBC from C$46.00 to C$47.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also weighed in on DFY. Scotiabank increased their price objective on Definity Financial from C$46.00 to C$49.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. TD Securities increased their price objective on Definity Financial from C$45.00 to C$49.00 and gave the company a buy rating in a research note on Friday, February 16th. National Bankshares increased their price objective on Definity Financial from C$57.00 to C$59.00 and gave the company an outperform rating in a research note on Tuesday, February 20th. Raymond James upped their target price on Definity Financial from C$42.00 to C$46.00 and gave the company a market perform rating in a report on Friday, February 16th. Finally, Cormark upped their target price on Definity Financial from C$42.00 to C$43.00 in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$47.30.

Definity Financial Stock Up 0.8 %

Shares of DFY opened at C$44.04 on Tuesday. The firm has a market cap of C$5.10 billion, a P/E ratio of 14.68, a P/E/G ratio of 2.63 and a beta of 0.08. The stock has a 50 day simple moving average of C$43.77 and a two-hundred day simple moving average of C$39.84. The company has a debt-to-equity ratio of 4.99, a current ratio of 4.68 and a quick ratio of 0.31. Definity Financial has a 1 year low of C$32.09 and a 1 year high of C$47.50.

Definity Financial (TSE:DFY) last released its quarterly earnings data on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. The firm had revenue of C$1 billion during the quarter. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. On average, analysts forecast that Definity Financial will post 2.7913715 earnings per share for the current fiscal year.

Definity Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.16 dividend. This is an increase from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.45%. Definity Financial’s dividend payout ratio is 21.33%.

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.