Definity Financial (TSE:DFY) Hits New 52-Week High – Still a Buy?

Definity Financial Co. (TSE:DFY) hit a new 52-week high on Wednesday . The company traded as high as C$60.95 and last traded at C$60.89, with a volume of 33620 shares. The stock had previously closed at C$59.20.

Analyst Ratings Changes

A number of analysts recently commented on the company. Raymond James downgraded Definity Financial from an “outperform” rating to a “market perform” rating and increased their price target for the company from C$53.00 to C$55.00 in a research report on Tuesday, November 12th. TD Securities increased their price target on shares of Definity Financial from C$58.00 to C$59.00 and gave the company a “hold” rating in a research report on Friday, November 8th. BMO Capital Markets lifted their price objective on shares of Definity Financial from C$53.00 to C$57.00 in a research report on Monday, November 11th. National Bankshares increased their price target on shares of Definity Financial from C$62.00 to C$65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Cormark downgraded shares of Definity Financial from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Definity Financial presently has a consensus rating of “Hold” and a consensus target price of C$54.70.

Definity Financial Price Performance

The business has a 50 day moving average of C$57.43 and a 200 day moving average of C$53.96. The company has a debt-to-equity ratio of 6.38, a current ratio of 7.68 and a quick ratio of 0.31. The company has a market cap of C$7.01 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 2.63 and a beta of 0.04.

Definity Financial (TSE:DFY) last posted its quarterly earnings data on Thursday, November 7th. The company reported C$0.13 earnings per share for the quarter, beating the consensus estimate of C($0.04) by C$0.17. The business had revenue of C$1.10 billion for the quarter, compared to analysts’ expectations of C$1.10 billion. Definity Financial had a return on equity of 13.00% and a net margin of 9.60%. As a group, research analysts predict that Definity Financial Co. will post 3.1263962 EPS for the current year.

Definity Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.05%. The ex-dividend date was Friday, December 13th. Definity Financial’s dividend payout ratio (DPR) is 19.34%.

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.