Analysts Set CI Financial Corp (CIX) Target Price at $29.86

Shares of CI Financial Corp (TSE:CIX) have been assigned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is C$29.86.

CIX has been the topic of a number of analyst reports. Desjardins upped their price target on CI Financial from C$28.00 to C$29.00 in a research report on Tuesday, October 31st. Barclays upped their price target on CI Financial from C$30.00 to C$32.00 in a research report on Monday, October 30th. CIBC upped their price target on CI Financial from C$32.50 to C$33.00 in a research report on Monday, November 13th. TD Securities upped 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 issued a C$29.00 price target on shares of CI Financial in a research report on Monday, September 18th.

In other news, insider Douglas J.R. Jamieson purchased 1,000 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were acquired at an average price of C$28.00 per share, with a total value of C$28,000.00. Also, Director Neal A. Kerr sold 3,800 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of C$29.59, for a total value of C$112,442.00. Insiders have sold 5,707 shares of company stock worth $168,150 in the last 90 days.

Shares of CI Financial (CIX) traded down C$0.03 during trading hours on Friday, reaching C$29.51. The company’s stock had a trading volume of 897,286 shares, compared to its average volume of 472,879. CI Financial has a 52-week low of C$25.79 and a 52-week high of C$29.73.

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

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About CI Financial

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 (TSE:CIX)

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