Scotiabank Increases Definity Financial (TSE:DFY) Price Target to C$51.00

Definity Financial (TSE:DFY) had its target price increased by Scotiabank from C$49.00 to C$51.00 in a research report report published on Friday morning, BayStreet.CA reports.

A number of other equities analysts also recently issued reports on DFY. National Bankshares increased their price target on Definity Financial from C$57.00 to C$59.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. TD Securities increased their price target on Definity Financial from C$45.00 to C$49.00 and gave the stock a buy rating in a research report on Friday, February 16th. Raymond James increased their price target on Definity Financial from C$42.00 to C$46.00 and gave the stock a market perform rating in a research report on Friday, February 16th. Royal Bank of Canada increased their price target on Definity Financial from C$48.00 to C$49.00 and gave the stock an outperform rating in a research report on Friday, February 16th. Finally, CIBC increased their price target on Definity Financial from C$46.00 to C$47.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Definity Financial has an average rating of Moderate Buy and an average target price of C$47.60.

Definity Financial Stock Up 1.7 %

Shares of DFY opened at C$46.17 on Friday. Definity Financial has a 52 week low of C$32.09 and a 52 week high of C$47.50. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99. The company 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. The stock’s 50-day moving average price is C$44.74 and its 200-day moving average price is C$40.25.

Definity Financial (TSE:DFY) last issued its earnings results on Thursday, February 15th. The company reported C$0.86 EPS for the quarter, topping analysts’ consensus estimates of C$0.74 by C$0.12. The firm had revenue of C$1 billion for the quarter. Definity Financial had a return on equity of 12.52% and a net margin of 9.06%. On average, sell-side analysts predict that Definity Financial will post 2.7913715 EPS for the current year.

Definity Financial Increases Dividend

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