Top PickSecond stock in the clip. GLTA https://www.bnnbloomberg.ca/video/gavin-graham-s-top-picks~2637520 Definity Financial (DFY TSX)
Last purchase: October 2022 $38.50
The recently demutualized holding company for the Economical Mutual Fire Insurance Company founded in 1871, Definity is the sixth largest property and casualty (P&C) insurance company in Canada. Management has made the company profitable writing insurance and its Sonnet brand, (10 per cent of sales) is the largest direct-to-consumer insurer and it has a strong position in pet insurance. While up 50 per cent from its initial public offer in late 2021, it is reasonably priced at 16 times earnings and yields 1.5 per cent.
TOP PICK
Definity Financial(DFY-T)
28/02/2023
Up 30% in one year and the biggest IPO of 2021. Their combined ratio went from 110% to 90%, from losing to making money. Pays a 1.3% dividend. Also they have a pet insurance business, a lucrative space.
(Analysts’ price target is $42.95)
Gavin Graham
$35.920
Unknown