Definity Financial (TSE:DFY) Reaches New 1-Year High at $35.54

Shares of Definity Financial Co. (TSE:DFYGet Rating) hit a new 52-week high on Friday . The stock traded as high as C$35.54 and last traded at C$35.54, with a volume of 247473 shares traded. The stock had previously closed at C$34.50.

A number of brokerages have commented on DFY. Royal Bank of Canada lifted their price target on Definity Financial from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research report on Friday, February 11th. Cormark lowered their price target on Definity Financial from C$38.00 to C$36.00 in a research report on Monday, May 16th. Raymond James lifted their price target on Definity Financial from C$33.50 to C$34.50 and gave the stock an “outperform” rating in a research report on Monday, May 16th. Scotiabank boosted their price objective on Definity Financial from C$35.00 to C$37.00 in a report on Monday, May 16th. Finally, CIBC set a C$41.50 price objective on Definity Financial and gave the company an “outperform” rating in a report on Thursday, April 21st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$36.13.

The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.75. The company’s 50-day moving average is C$32.79. The company has a market cap of C$4.14 billion and a price-to-earnings ratio of 21.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 28th. Investors of record on Wednesday, June 15th will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Tuesday, June 14th. Definity Financial’s dividend payout ratio is presently 30.40%.

About Definity Financial (TSE:DFY)

Definity Financial Corporation, together with its subsidiaries, provides property and casualty insurance products in Canada. It offers 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 comprising fleet, commercial auto, property, liability, and specialty insurance products to businesses under the under the Economical brand name.

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