National Bankshares Forecasts Strong Price Appreciation for Definity Financial (TSE:DFY) Stock

Definity Financial (TSE:DFY) had its price objective lifted by research analysts at National Bankshares from C$92.00 to C$93.00 in a report issued on Monday,BayStreet.CA reports. National Bankshares’ price target suggests a potential upside of 34.20% from the company’s previous close.

Other analysts have also issued research reports about the stock. Desjardins dropped their target price on shares of Definity Financial from C$80.00 to C$70.00 and set a “hold” rating on the stock in a research report on Friday, October 24th. Barclays raised shares of Definity Financial to a “hold” rating in a research note on Tuesday, September 30th. CIBC lowered their price objective on Definity Financial from C$80.00 to C$74.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Scotiabank increased their target price on Definity Financial from C$92.00 to C$93.00 in a report on Friday. Finally, TD Securities upgraded Definity Financial from a “hold” rating to a “buy” rating and raised their target price for the company from C$74.00 to C$80.00 in a research report on Friday. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Definity Financial currently has a consensus rating of “Hold” and a consensus target price of C$76.50.

Definity Financial Stock Performance

Shares of TSE:DFY traded down C$0.90 during midday trading on Monday, reaching C$69.30. 95,305 shares of the company’s stock traded hands, compared to its average volume of 174,784. The company has a fifty day simple moving average of C$69.76 and a two-hundred day simple moving average of C$71.98. Definity Financial has a 1 year low of C$52.75 and a 1 year high of C$79.95. The company has a market cap of C$8.31 billion, a P/E ratio of 20.81, a PEG ratio of 2.63 and a beta of -0.15.

Insider Activity

In other news, Director Sonia Baxendale purchased 500 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was acquired at an average price of C$69.00 per share, for a total transaction of C$34,500.00. Following the acquisition, the director directly owned 750 shares of the company’s stock, valued at approximately C$51,750. This 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 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 completion of the transaction, the insider owned 7,669 shares in the company, valued at C$564,285.02. This represents a 31.34% decrease in their ownership of the stock. 0.50% of the stock is currently 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.