CI Financial Corp (CIX) Price Target Raised to C$29.00 at Desjardins

CI Financial Corp (TSE:CIX) had its price target hoisted by Desjardins from C$28.00 to C$29.00 in a report published on Tuesday. Desjardins also issued estimates for CI Financial Corp’s Q3 2017 earnings at $0.53 EPS and FY2018 earnings at $2.38 EPS.

Other equities analysts have also issued reports about the company. BMO Capital Markets reaffirmed a market perform rating and set a C$29.00 target price on shares of CI Financial Corp in a report on Monday, September 18th. Scotiabank upped their target price on CI Financial Corp from C$28.00 to C$30.00 and gave the company a sector perform rating in a report on Friday, August 11th. TD Securities upped their target price on CI Financial Corp from C$28.00 to C$29.00 and gave the company a hold rating in a report on Friday, August 11th. Barclays PLC upped their target price on CI Financial Corp from C$30.00 to C$32.00 in a report on Monday, October 30th. Finally, CIBC upped their target price on CI Financial Corp from C$32.00 to C$34.00 and gave the company an outperform rating in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of C$30.00.

Shares of CI Financial Corp (CIX) opened at C$28.40 on Tuesday.

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The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be issued a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a yield of 4.96%. This is a positive change from CI Financial Corp’s previous monthly dividend of $0.12. The ex-dividend date of this dividend is Monday, October 30th.

In other CI Financial Corp news, insider Douglas J.R. Jamieson acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 17th. The stock was acquired at an average cost of C$28.00 per share, with a total value of C$28,000.00. Also, Director Roy Ratnavel acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average cost of C$26.76 per share, with a total value of C$267,600.00. Insiders purchased a total of 26,000 shares of company stock valued at $698,500 over the last three months.

CI Financial Corp 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 Corp (TSE:CIX)

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