Analysts Set CI Financial (CIX) Price Target at $29.86

Shares of CI Financial (TSE:CIX) have earned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is C$29.86.

Several research firms have weighed in on CIX. TD Securities lowered their price target on shares of CI Financial from C$31.00 to C$28.00 and set a “hold” rating for the company in a research note on Tuesday, February 20th. Scotiabank lowered their price target on shares of CI Financial from C$30.50 to C$29.00 and set a “sector perform” rating for the company in a research note on Friday, February 16th. Barclays boosted their price target on shares of CI Financial from C$31.00 to C$32.00 in a research note on Friday, February 16th. BMO Capital Markets raised shares of CI Financial from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from C$31.00 to C$32.00 in a research note on Friday, February 16th. Finally, Desjardins lowered their price target on shares of CI Financial from C$30.00 to C$29.00 in a research note on Friday, February 16th.

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CI Financial stock traded down C$0.25 during mid-day trading on Monday, hitting C$27.35. The company’s stock had a trading volume of 284,958 shares, compared to its average volume of 539,130. CI Financial has a 12 month low of C$25.79 and a 12 month high of C$30.23.



CI Financial (TSE:CIX) last posted its quarterly earnings results on Thursday, February 15th. The company reported C$0.59 earnings per share for the quarter, hitting the consensus estimate of C$0.59. The business had revenue of C$594.40 million during the quarter. CI Financial had a net margin of 21.66% and a return on equity of 28.22%.

The company also recently disclosed a monthly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 15th were paid a dividend of $0.1175 per share. This represents a $1.41 annualized dividend and a dividend yield of 5.16%. The ex-dividend date was Tuesday, February 27th.

In other news, Director David P. Miller acquired 2,800 shares of the stock in a transaction dated Friday, March 23rd. The stock was purchased at an average cost of C$28.09 per share, with a total value of C$78,652.00. Also, Director Neal A. Kerr sold 4,500 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of C$30.12, for a total transaction of C$135,540.00. Over the last ninety days, insiders have sold 5,396 shares of company stock valued at $161,587.

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About CI Financial

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.

Analyst Recommendations for CI Financial (TSE:CIX)

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