Brokerages Set CI Financial Corp (CIX) Target Price at $28.67

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.

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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.

Analyst Recommendations for CI Financial Corp (TSE:CIX)

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