Barclays Lowers CI Financial (CIX) Price Target to C$31.00

CI Financial (TSE:CIX) had its target price cut by Barclays from C$32.00 to C$31.00 in a research report report published on Thursday.

A number of other equities research analysts have also recently weighed in on CIX. Royal Bank of Canada reduced their price objective on CI Financial from C$28.00 to C$26.00 and set an underperform rating for the company in a research note on Friday, February 16th. Desjardins reduced their price objective on CI Financial from C$30.00 to C$29.00 in a research note on Friday, February 16th. BMO Capital Markets upgraded CI Financial from a market perform rating to an outperform rating and boosted their price objective for the company from C$31.00 to C$32.00 in a research note on Friday, February 16th. Scotiabank reduced their price objective on 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. Finally, TD Securities reduced their price objective on 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. CI Financial presently has an average rating of Hold and an average target price of C$29.71.

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CIX stock opened at C$26.72 on Thursday. CI Financial has a fifty-two week low of C$25.79 and a fifty-two week high of C$30.23.

CI Financial (TSE:CIX) last posted its 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 firm had revenue of C$594.40 million during the quarter. CI Financial had a return on equity of 28.22% and a net margin of 21.66%.

In other news, Director David P. Miller acquired 2,800 shares of CI Financial stock in a transaction on Friday, March 23rd. The stock was bought at an average price of C$28.09 per share, for a total transaction of C$78,652.00. Also, Director Neal A. Kerr sold 4,500 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of C$30.12, for a total value of C$135,540.00. In the last quarter, insiders 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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