Definity Financial (TSE:DFY) Price Target Raised to C$45.00 at Desjardins

Definity Financial (TSE:DFY) had its price target increased by Desjardins from C$44.00 to C$45.00 in a report published on Tuesday morning, BayStreet.CA reports. The brokerage currently has a hold rating on the stock. Desjardins also issued estimates for Definity Financial’s Q1 2024 earnings at $0.70 EPS and FY2024 earnings at $2.68 EPS.

A number of other research analysts have also weighed in on DFY. 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 note on Friday, February 16th. TD Securities increased their target price 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 target price 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. National Bankshares increased their target price 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Definity Financial currently has a consensus rating of Moderate Buy and an average target price of C$47.30.

Definity Financial Trading Up 0.8 %

Shares of Definity Financial stock opened at C$44.04 on Tuesday. Definity Financial has a fifty-two week low of C$32.09 and a fifty-two week high of C$47.50. The firm has a market cap of C$5.10 billion, a PE ratio of 14.68, a P/E/G ratio of 2.63 and a beta of 0.08. The business’s fifty day moving average is C$43.77 and its two-hundred day moving average is C$39.84. The company has a quick ratio of 0.31, a current ratio of 4.68 and a debt-to-equity ratio of 4.99.

Definity Financial (TSE:DFY) last issued its quarterly earnings results on Thursday, February 15th. The company reported C$0.86 earnings per share for the quarter, topping 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 for the quarter. Analysts anticipate that Definity Financial will post 2.7913715 earnings per share 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 given a $0.16 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Definity Financial’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.45%. Definity Financial’s dividend payout ratio (DPR) is 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.