Barclays Upgrades Definity Financial (TSE:DFY) to “Hold”

Barclays upgraded shares of Definity Financial (TSE:DFY) to a hold rating in a report published on Tuesday morning,Zacks.com reports.

Several other research firms have also recently commented on DFY. Cormark raised Definity Financial from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, June 11th. Royal Bank Of Canada upgraded Definity Financial to a “moderate buy” rating and set a C$87.00 price target on the stock in a report on Wednesday, June 18th. Desjardins raised shares of Definity Financial to a “hold” rating in a research report on Wednesday, June 11th. TD Securities lifted their price objective on shares of Definity Financial from C$80.00 to C$81.00 and gave the company a “hold” rating in a research note on Friday, August 1st. Finally, CIBC set a C$80.00 target price on shares of Definity Financial and gave the company a “neutral” rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Definity Financial has a consensus rating of “Hold” and a consensus price target of C$74.20.

Definity Financial Price Performance

Shares of TSE DFY opened at C$70.25 on Tuesday. The company has a 50 day simple moving average of C$72.68 and a 200 day simple moving average of C$70.86. Definity Financial has a 1 year low of C$52.16 and a 1 year high of C$79.95. The firm has a market cap of C$8.34 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 2.63 and a beta of -0.16.

Insiders Place Their Bets

In related news, insider Liam Michael Mcfarlane sold 3,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 7,669 shares of the company’s stock, valued at C$564,285.02. This trade represents a 31.34% decrease in their ownership of the stock. Also, Director Sonia Baxendale bought 1,500 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were bought at an average price of C$69.80 per share, with a total value of C$104,700.00. Following the completion of the transaction, the director owned 2,250 shares of the company’s stock, valued at C$157,050. The trade was a 200.00% increase in their ownership of the stock. 0.50% of the stock is owned by insiders.

Definity Financial Company Profile

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