Definity Financial (TSE:DFY) Price Target Raised to C$50.00 at Royal Bank of Canada

Definity Financial (TSE:DFY) had its price target upped by Royal Bank of Canada from C$49.00 to C$50.00 in a research report report published on Monday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on the stock. Desjardins lifted their target price on shares of Definity Financial from C$44.00 to C$45.00 and gave the company a hold rating in a research note on Tuesday, April 16th. Scotiabank lifted their price objective on Definity Financial from C$49.00 to C$51.00 in a research report on Friday. BMO Capital Markets increased their target price on Definity Financial from C$40.00 to C$44.00 and gave the stock a market perform rating in a research report on Tuesday, February 20th. Cormark lifted their price target on Definity Financial from C$42.00 to C$43.00 in a research report on Friday, February 16th. Finally, National Bankshares upped their price target on Definity Financial from C$57.00 to C$59.00 and gave the stock an outperform rating in a research note on Tuesday, February 20th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of C$47.60.

Definity Financial Trading Up 1.7 %

DFY opened at C$46.17 on Monday. The firm has a market capitalization of C$5.35 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.63 and a beta of 0.08. Definity Financial has a one year low of C$32.09 and a one year high of C$47.50. The business has a 50 day simple moving average of C$44.74 and a two-hundred day simple moving average of C$40.25. 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 (TSE:DFY) last announced its earnings results on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, beating analysts’ consensus estimates of C$0.74 by C$0.12. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. The company had revenue of C$1 billion during the quarter. Analysts predict that Definity Financial will post 2.7913715 EPS for the current year.

Definity Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.16 per share. This is a boost from Definity Financial’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.64 dividend on an annualized basis and a yield of 1.39%. Definity Financial’s payout ratio is presently 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.