CI Financial (CIX) Reaches New 12-Month High at $29.73

Shares of CI Financial Corp (TSE:CIX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$29.73 and last traded at C$29.49, with a volume of 2129588 shares changing hands. The stock had previously closed at C$29.49.

CIX has been the subject of a number of research analyst reports. Desjardins lifted their price target on CI Financial from C$28.00 to C$29.00 in a research report on Tuesday, October 31st. Barclays lifted their price target on CI Financial from C$30.00 to C$32.00 in a research report on Monday, October 30th. CIBC lifted their price target on CI Financial from C$32.50 to C$33.00 in a research report on Monday, November 13th. TD Securities lifted their price target on CI Financial from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Friday, November 10th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a C$29.00 price target on shares of CI Financial in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of C$29.86.

The company also recently announced a monthly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were given a $0.117 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.76%. CI Financial’s payout ratio is 74.07%.

In other news, insider Douglas J.R. Jamieson bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was bought at an average price of C$28.00 per share, for a total transaction of C$28,000.00. Insiders sold a total of 1,491 shares of company stock valued at $43,390 in the last 90 days.

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CI Financial Company Profile

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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