Shares of Definity Financial Co. (TSE:DFY – Get Free Report) have been given an average rating of “Moderate Buy” by the eight brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is C$43.83.
DFY has been the subject of several recent research reports. Raymond James upped their price objective on Definity Financial from C$39.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 12th. Scotiabank dropped their price objective on Definity Financial from C$50.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Monday, July 24th. TD Securities upped their price objective on Definity Financial from C$42.00 to C$43.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Royal Bank of Canada dropped their price objective on Definity Financial from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 24th. Finally, CIBC upped their price objective on Definity Financial from C$40.50 to C$42.50 in a research note on Monday, November 13th.
Definity Financial Stock Up 1.2 %
Definity Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Friday, December 15th will be issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, December 14th. Definity Financial’s dividend payout ratio is presently 14.29%.
Definity Financial Company Profile
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 Economical brand name.
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