Shares of CI Financial Corp (TSE:CIX) have earned an average recommendation of “Hold” from the eight research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is C$29.43.
Several research analysts have weighed in on the stock. CIBC upped their target price on shares of CI Financial Corp from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Tuesday. Scotiabank upped their target price on shares of CI Financial Corp from C$28.00 to C$30.00 and gave the stock a “sector perform” rating in a research report on Friday, August 11th. BMO Capital Markets restated a “market perform” rating and set a C$29.00 target price on shares of CI Financial Corp in a research report on Monday, September 18th. Finally, TD Securities upped their target price on shares of CI Financial Corp from C$28.00 to C$29.00 and gave the stock a “hold” rating in a research report on Friday, August 11th.
TRADEMARK VIOLATION NOTICE: This article was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this article on another website, it was illegally copied and republished in violation of U.S. and international copyright and trademark law. The original version of this article can be accessed at https://www.dispatchtribunal.com/2017/10/04/brokerages-set-ci-financial-corp-cix-target-price-at-28-67.html.
CI Financial Corp (TSE:CIX) traded up 0.54% during midday trading on Friday, hitting $27.90. The stock had a trading volume of 335,180 shares. The stock has a 50 day moving average of $27.25 and a 200 day moving average of $27.00. The stock has a market cap of $7.20 billion and a price-to-earnings ratio of 15.18. CI Financial Corp has a 12 month low of $23.52 and a 12 month high of $29.94.
The firm also recently declared a monthly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a $0.117 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.40 annualized dividend and a dividend yield of 5.03%.
In other CI Financial Corp news, Director Roy Ratnavel purchased 10,000 shares of the stock in a transaction dated Monday, August 14th. The shares were acquired at an average cost of C$26.76 per share, for a total transaction of C$267,600.00.
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.
Receive News & Ratings for CI Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CI Financial Corp and related companies with MarketBeat.com's FREE daily email newsletter.