CI Financial Corp (CIX) Receives Consensus Recommendation of “Hold” from Analysts

Shares of CI Financial Corp (TSE:CIX) have earned a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is C$30.33.

Several research analysts recently weighed in on the company. Barclays lowered their price objective on CI Financial from C$32.00 to C$31.00 in a research report on Monday, November 13th. CIBC increased their price objective on CI Financial from C$32.50 to C$33.00 in a research report on Monday, November 13th. TD Securities increased their price objective on CI Financial from C$29.00 to C$30.00 and gave the stock a “hold” rating in a research report on Friday, November 10th. Desjardins increased their price objective on CI Financial from C$28.00 to C$29.00 in a research report on Tuesday, October 31st. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a C$29.00 price objective on shares of CI Financial in a research report on Monday, September 18th.

CI Financial (TSE:CIX) opened at C$29.38 on Wednesday. The firm has a market capitalization of $8,070.00, a P/E ratio of 15.63 and a beta of 0.55. CI Financial has a 52-week low of C$25.79 and a 52-week high of C$29.85.

The company also recently declared a monthly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.117 per share. The ex-dividend date was Wednesday, November 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.78%. CI Financial’s dividend payout ratio is currently 74.07%.

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

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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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