CI Financial (TSE:CIX) had its target price dropped by research analysts at Royal Bank of Canada from C$28.00 to C$26.00 in a report released on Friday, February 16th. The brokerage presently has an “underperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 8.26% from the company’s current price.
CIX has been the subject of a number of other research reports. Barclays raised their price objective on shares of CI Financial from C$30.00 to C$32.00 in a report on Monday, October 30th. CIBC raised their price objective on shares of CI Financial from C$32.50 to C$33.00 in a report on Monday, November 13th. TD Securities raised their price objective on shares of CI Financial from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Friday, November 10th. Finally, Desjardins increased their target price on shares of CI Financial from C$28.00 to C$29.00 in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of C$29.86.
CI Financial (TSE CIX) traded down C$0.04 during midday trading on Friday, reaching C$28.34. 857,236 shares of the company were exchanged, compared to its average volume of 601,722. CI Financial has a 1-year low of C$25.79 and a 1-year high of C$30.23. The stock has a market capitalization of $7,720.00, a P/E ratio of 14.61 and a beta of 0.49.
In other CI Financial news, Director Neal A. Kerr sold 3,800 shares of the 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. Also, Director Neal A. Kerr sold 4,500 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of C$30.12, for a total transaction of C$135,540.00. Insiders have sold 8,916 shares of company stock valued at $266,288 in the last quarter.
About CI Financial
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.
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