CIBC Has Lowered Expectations for Definity Financial (TSE:DFY) Stock Price

Definity Financial (TSE:DFY) had its price objective dropped by investment analysts at CIBC from C$80.00 to C$74.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. CIBC’s price target would suggest a potential upside of 12.21% from the stock’s previous close.

A number of other 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 stock an “outperform” rating in a research report on Tuesday, July 29th. TD Securities decreased their price target on Definity Financial from C$81.00 to C$74.00 in a report on Wednesday. Finally, Barclays raised shares of Definity Financial to a “hold” rating in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of C$73.20.

Definity Financial Stock Performance

Shares of DFY opened at C$65.95 on Thursday. Definity Financial has a fifty-two week low of C$52.75 and a fifty-two week high of C$79.95. The firm has a 50-day simple moving average of C$70.74 and a 200-day simple moving average of C$71.57. The company has a market capitalization of C$7.91 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 2.63 and a beta of -0.15.

Insider Buying and Selling at Definity Financial

In related news, Director Sonia Baxendale bought 1,500 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were bought at an average cost of C$69.80 per share, for a total transaction of C$104,700.00. Following the transaction, the director owned 2,250 shares of the company’s stock, valued at approximately C$157,050. This trade represents a 200.00% increase in their ownership of the stock. Also, insider Liam Michael Mcfarlane sold 3,500 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of C$73.58, for a total transaction of C$257,530.00. Following the transaction, the insider directly owned 7,669 shares in the company, valued at approximately C$564,285.02. This trade represents a 31.34% decrease in their ownership of the stock. Corporate insiders own 0.50% of the company’s stock.

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.