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

Definity Financial (TSE:DFY) had its target price raised by CIBC from C$46.00 to C$47.00 in a research report released on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the stock.

DFY has been the subject of several other reports. 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 report on Friday, February 16th. National Bankshares lifted their price objective on Definity Financial from C$57.00 to C$59.00 and gave the company an outperform rating in a report on Tuesday, February 20th. BMO Capital Markets lifted their price objective on Definity Financial from C$40.00 to C$44.00 and gave the company a market perform rating in a report on Tuesday, February 20th. Desjardins lifted their price objective on Definity Financial from C$40.00 to C$44.00 and gave the company a hold rating in a report on Tuesday, February 20th. Finally, Cormark lifted their price objective on Definity Financial from C$42.00 to C$43.00 in a report on Friday, February 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Definity Financial presently has an average rating of Moderate Buy and a consensus target price of C$47.30.

Definity Financial Stock Performance

Shares of TSE:DFY opened at C$44.39 on Tuesday. The stock has a market capitalization of C$5.14 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.63 and a beta of 0.08. Definity Financial has a 1-year low of C$32.09 and a 1-year high of C$47.50. The company has a current ratio of 4.68, a quick ratio of 0.31 and a debt-to-equity ratio of 4.99. The business has a 50-day moving average price of C$44.00 and a two-hundred day moving average price of C$39.90.

Definity Financial (TSE:DFY) last announced its quarterly 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. The company 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%. Equities analysts predict that Definity Financial will post 2.7913715 earnings per share for the current year.

Definity Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.16 per share. This is a positive change 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 annualized dividend and a dividend yield of 1.44%. Definity Financial’s payout ratio is 21.33%.

Definity Financial Company Profile

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.