CI Financial Corp (CIX) Receives C$30.33 Average PT from Brokerages

CI Financial Corp (TSE:CIX) has received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokers that have covered the stock in the last year is C$30.33.

A number of equities analysts recently issued reports on the stock. TD Securities upped their price target on shares of CI Financial from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research note on Friday, November 10th. Desjardins upped their price target on shares of CI Financial from C$28.00 to C$29.00 in a research note on Tuesday, October 31st. BMO Capital Markets reiterated a “market perform” rating and issued a C$29.00 price target on shares of CI Financial in a research note on Monday, September 18th. CIBC upped their price target on shares of CI Financial from C$32.50 to C$33.00 in a research note on Monday, November 13th. Finally, Barclays dropped their price target on shares of CI Financial from C$32.00 to C$31.00 in a research note on Monday, November 13th.

CI Financial (CIX) remained flat at $C$29.05 during trading hours on Wednesday. The stock had a trading volume of 428,998 shares, compared to its average volume of 541,342. The stock has a market capitalization of $7,980.00, a PE ratio of 15.45 and a beta of 0.55. CI Financial has a 1-year low of C$25.79 and a 1-year high of C$29.85.

The business also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 15th will be paid a dividend of $0.1175 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $1.41 annualized dividend and a yield of 4.85%. This is a boost from CI Financial’s previous monthly dividend of $0.12. CI Financial’s dividend payout ratio is currently 74.07%.

In related news, insider Douglas J.R. Jamieson bought 1,000 shares of the stock in a transaction on Tuesday, October 17th. The shares were acquired at an average price of C$28.00 per share, for a total transaction of C$28,000.00. Also, Director Neal A. Kerr sold 3,800 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of C$29.59, for a total transaction of C$112,442.00. Insiders have sold a total of 5,707 shares of company stock worth $168,150 in the last 90 days.

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CI Financial Company Profile

CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.

Analyst Recommendations for CI Financial (TSE:CIX)

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