CI Financial (CIX) Reaches New 12-Month Low at $18.99

CI Financial Corp (TSE:CIX) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as C$18.99 and last traded at C$19.26, with a volume of 323256 shares changing hands. The stock had previously closed at C$19.15.

A number of equities research analysts have issued reports on CIX shares. TD Securities lowered their price target on CI Financial from C$25.00 to C$24.00 in a research report on Friday, August 10th. BMO Capital Markets lowered their price target on CI Financial from C$29.00 to C$26.00 in a research report on Friday, August 10th. Barclays downgraded CI Financial from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from C$29.00 to C$24.00 in a research report on Friday, August 10th. Royal Bank of Canada lowered their price target on CI Financial from C$25.00 to C$22.00 and set an “underperform” rating for the company in a research report on Friday, August 10th. Finally, Canaccord Genuity lowered their price target on CI Financial from C$30.00 to C$27.00 in a research report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of C$25.75.

CI Financial (TSE:CIX) last issued its quarterly earnings data on Thursday, August 9th. The company reported C$0.61 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.60 by C$0.01. The company had revenue of C$564.60 million for the quarter. CI Financial had a return on equity of 28.22% and a net margin of 21.66%.

In related news, insider Douglas J.R. Jamieson acquired 1,800 shares of CI Financial stock in a transaction on Wednesday, September 5th. The shares were bought at an average price of C$20.59 per share, for a total transaction of C$37,062.00. Also, Director William Thomas Holland acquired 56,500 shares of CI Financial stock in a transaction on Monday, August 13th. The shares were bought at an average price of C$21.04 per share, for a total transaction of C$1,188,760.00. In the last 90 days, insiders have acquired 233,300 shares of company stock worth $4,706,322.

CI Financial Company Profile (TSE:CIX)

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.

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