CI Financial Corp (CIX) Price Target Lowered to C$31.00 at Barclays PLC
A number of other equities research analysts have also recently issued reports on the company. CIBC boosted their price objective on CI Financial Corp from C$32.50 to C$33.00 in a research note on Monday. Desjardins boosted their price objective on CI Financial Corp from C$28.00 to C$29.00 in a research note on Tuesday, October 31st. TD Securities boosted their price objective on CI Financial Corp from C$29.00 to C$30.00 and gave the company a hold rating in a research note on Friday. BMO Capital Markets restated a market perform rating and issued a C$29.00 price objective on shares of CI Financial Corp in a research note on Monday, September 18th. Finally, Scotiabank boosted their price objective on CI Financial Corp from C$28.00 to C$30.00 and gave the company a sector perform rating in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of C$29.86.
CI Financial Corp (TSE:CIX) traded up C$0.06 during midday trading on Monday, hitting C$28.40. The stock had a trading volume of 309,060 shares, compared to its average volume of 458,233. CI Financial Corp has a 12 month low of C$25.11 and a 12 month high of C$29.94.
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The business also recently announced a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.117 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend is Wednesday, November 29th. CI Financial Corp’s payout ratio is presently 73.67%.
In related news, insider Douglas J.R. Jamieson bought 1,000 shares of CI Financial Corp stock in a transaction on Tuesday, October 17th. The stock was acquired at an average price of C$28.00 per share, with a total value of C$28,000.00.
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.
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