Definity Financial (TSE:DFY) Shares Down 0.6% – Here’s What Happened

Definity Financial Co. (TSE:DFY) traded down 0.6% during mid-day trading on Wednesday . The stock traded as low as C$75.95 and last traded at C$76.00. 17,271 shares traded hands during trading, a decline of 90% from the average session volume of 167,867 shares. The stock had previously closed at C$76.47.

Wall Street Analyst Weigh In

Several analysts have recently commented on DFY shares. CIBC reduced their price target on Definity Financial from C$80.00 to C$74.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Desjardins reduced their target price on Definity Financial from C$80.00 to C$70.00 and set a “hold” rating for the company in a report on Friday, October 24th. TD Securities raised shares of Definity Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from C$74.00 to C$80.00 in a research note on Friday, November 7th. BMO Capital Markets increased their price target on shares of Definity Financial from C$68.00 to C$73.00 in a report on Monday, November 10th. Finally, Barclays upgraded shares of Definity Financial to a “hold” rating in a research note on Tuesday, September 30th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Definity Financial presently has an average rating of “Hold” and an average target price of C$76.50.

Definity Financial Price Performance

The company has a market capitalization of C$9.11 billion, a PE ratio of 18.77, a P/E/G ratio of 2.63 and a beta of -0.09. The stock has a 50-day simple moving average of C$70.04 and a 200 day simple moving average of C$72.59.

Definity Financial (TSE:DFY) last released its quarterly earnings results on Thursday, November 6th. The company reported C$1.59 earnings per share (EPS) for the quarter. Definity Financial had a return on equity of 18.19% and a net margin of 12.32%.The business had revenue of C$1.56 billion during the quarter. As a group, research analysts predict that Definity Financial Co. will post 3.1263962 EPS for the current fiscal year.

Insider Activity

In other news, insider Craig Edward David Richardson sold 1,881 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of C$70.80, for a total value of C$133,174.80. Following the sale, the insider directly owned 7 shares in the company, valued at C$495.60. This represents a 99.63% decrease in their ownership of the stock. 0.50% of the stock is owned by company 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.