CI Financial Corp (CIX) Receives C$30.33 Consensus PT from Analysts
CI Financial Corp (TSE:CIX) has received a consensus rating of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is C$30.33.
Several research firms recently issued reports on CIX. Barclays reduced their target price on shares of CI Financial from C$32.00 to C$31.00 in a report on Monday, November 13th. CIBC increased their target price on shares of CI Financial from C$32.50 to C$33.00 in a report on Monday, November 13th. BMO Capital Markets reissued a “market perform” rating and issued a C$29.00 target price on shares of CI Financial in a report on Monday, September 18th. TD Securities increased their target price on shares of CI Financial from C$29.00 to C$30.00 and gave the stock a “hold” rating in a report on Friday, November 10th. Finally, Desjardins increased their target price on shares of CI Financial from C$28.00 to C$29.00 in a report on Tuesday, October 31st.
In related news, insider Douglas J.R. Jamieson acquired 1,000 shares of the business’s stock in a transaction on Tuesday, October 17th. The stock was acquired at an average cost 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 stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of C$29.59, for a total transaction of C$112,442.00. Over the last ninety days, insiders have sold 5,707 shares of company stock valued at $168,150.
CI Financial (TSE:CIX) remained flat at $C$29.05 during trading on Wednesday. The company had a trading volume of 428,998 shares, compared to its average volume of 541,342. The company has a market capitalization of $7,980.00, a PE ratio of 15.45 and a beta of 0.55. CI Financial has a 12-month low of C$25.79 and a 12-month high of C$29.85.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 15th will be issued a dividend of $0.1175 per share. This is a positive change from CI Financial’s previous monthly dividend of $0.12. This represents a $1.41 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date is Tuesday, January 30th. CI Financial’s dividend payout ratio (DPR) is 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.
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