CI Financial Corp (CIX) PT Raised to C$32.00 at Barclays PLC
CIX has been the subject of a number of other reports. CIBC upped their price objective on shares of CI Financial Corp from C$32.00 to C$34.00 and gave the company an outperform rating in a research note on Tuesday, October 3rd. Scotiabank upped their price objective on shares of 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. TD Securities upped their price objective on shares of CI Financial Corp from C$28.00 to C$29.00 and gave the company a hold rating in a research note on Friday, August 11th. Finally, BMO Capital Markets reaffirmed a market perform rating and set a C$29.00 price objective on shares of CI Financial Corp in a research note on Monday, September 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of C$30.00.
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 15th will be given a $0.1175 dividend. This represents a $1.41 dividend on an annualized basis and a dividend yield of 4.98%. This is a positive change from CI Financial Corp’s previous monthly dividend of $0.12. The ex-dividend date is Monday, October 30th.
In related news, Director Roy Ratnavel purchased 10,000 shares of CI Financial Corp stock in a transaction dated 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. Also, insider Douglas J.R. Jamieson purchased 1,000 shares of CI Financial Corp stock in a transaction dated Tuesday, October 17th. The stock was bought at an average cost of C$28.00 per share, with a total value of C$28,000.00. Insiders bought 26,000 shares of company stock valued at $698,500 over the last three months.
About CI Financial Corp
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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