Definity Financial (TSE:DFY) Upgraded by TD Securities to Buy Rating

Definity Financial (TSE:DFY) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a report released on Friday,BayStreet.CA reports. The brokerage currently has a C$80.00 target price on the stock, up from their prior target price of C$74.00. TD Securities’ price objective points to a potential upside of 13.96% from the stock’s current price.

Several other equities research analysts have also recently weighed in on DFY. National Bankshares increased their price objective on Definity Financial from C$90.00 to C$92.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. CIBC decreased their price target on shares of Definity Financial from C$80.00 to C$74.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Barclays raised shares of Definity Financial to a “hold” rating in a research report on Tuesday, September 30th. Scotiabank increased their target price on shares of Definity Financial from C$92.00 to C$93.00 in a research note on Friday. Finally, Desjardins lowered their price target on Definity Financial from C$80.00 to C$70.00 and set a “hold” rating on the stock in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$75.50.

Definity Financial Price Performance

Shares of TSE DFY traded up C$2.55 during trading hours on Friday, hitting C$70.20. 416,293 shares of the stock were exchanged, compared to its average volume of 175,170. The firm has a market capitalization of C$8.42 billion, a P/E ratio of 21.08, a P/E/G ratio of 2.63 and a beta of -0.15. Definity Financial has a one year low of C$52.75 and a one year high of C$79.95. The company’s 50 day moving average is C$69.78 and its 200 day moving average is C$71.84.

Insider Activity

In other Definity Financial news, insider Liam Michael Mcfarlane sold 3,500 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of C$73.58, for a total value of C$257,530.00. Following the transaction, the insider directly owned 7,669 shares in the company, valued at C$564,285.02. The trade was a 31.34% decrease in their ownership of the stock. Also, Director Sonia Baxendale acquired 500 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were purchased at an average cost of C$69.00 per share, for a total transaction of C$34,500.00. Following the completion of the purchase, the director directly owned 750 shares of the company’s stock, valued at approximately C$51,750. The trade was a 200.00% increase in their position. 0.50% of the stock is currently owned by corporate insiders.

About Definity Financial

Definity Financial Corp is a multi-channel, property, and casualty insurance company. It offers auto, property, liability, and pet insurance products to individual customers.