Definity Financial (TSE:DFY) Sets New 12-Month High – Still a Buy?

Definity Financial Co. (TSE:DFY) shares hit a new 52-week high on Monday . The stock traded as high as C$60.14 and last traded at C$60.06, with a volume of 300 shares traded. The stock had previously closed at C$59.97.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Cormark downgraded shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Desjardins raised their price objective on Definity Financial from C$47.00 to C$52.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Raymond James cut shares of Definity Financial from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$53.00 to C$55.00 in a research note on Tuesday, November 12th. Cibc World Mkts lowered shares of Definity Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, National Bankshares raised their price objective on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Price Performance

The company has a debt-to-equity ratio of 6.38, a quick ratio of 0.31 and a current ratio of 7.68. The firm has a fifty day simple moving average of C$54.83 and a 200 day simple moving average of C$49.34. The company has a market capitalization of C$6.75 billion, a PE ratio of 17.75, a P/E/G ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.13 EPS for the quarter, beating the consensus estimate of C($0.04) by C$0.17. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. The firm had revenue of C$1.10 billion for the quarter, compared to analyst estimates of C$1.10 billion. Equities analysts anticipate that Definity Financial Co. will post 3.1263962 EPS for the current year.

Definity Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $0.16 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.64 annualized dividend and a dividend yield of 1.09%. Definity Financial’s payout ratio is presently 19.34%.

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.