CI Financial Corp (TSE:CIX) had its target price hoisted by Barclays PLC from C$30.00 to C$32.00 in a research note published on Monday morning.

Several other research analysts have also commented on CIX. CIBC raised their price objective on CI Financial Corp from C$32.00 to C$34.00 and gave the company an outperform rating in a research report on Tuesday, October 3rd. BMO Capital Markets reaffirmed a market perform rating and set a C$29.00 target price on shares of CI Financial Corp in a research report on Monday, September 18th. Scotiabank lifted their target price on CI Financial Corp from C$28.00 to C$30.00 and gave the stock a sector perform rating in a research report on Friday, August 11th. Finally, TD Securities lifted their target price on CI Financial Corp from C$28.00 to C$29.00 and gave the stock a hold rating in a research report on Friday, August 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of C$29.71.

CI Financial Corp (CIX) traded up 1.38% during midday trading on Monday, hitting $28.70. The company had a trading volume of 161,977 shares. The firm has a market cap of $7.41 billion and a price-to-earnings ratio of 15.61. The stock has a 50 day moving average of $27.74 and a 200 day moving average of $27.23. CI Financial Corp has a 52-week low of $23.52 and a 52-week high of $29.94.

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The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be issued a $0.1175 dividend. This is a positive change from CI Financial Corp’s previous monthly dividend of $0.12. This represents a $1.41 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Monday, October 30th.

In related news, Director Roy Ratnavel bought 10,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of C$26.76 per share, for a total transaction of C$267,600.00. Also, insider Douglas J.R. Jamieson bought 1,000 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was bought at an average price of C$28.00 per share, with a total value of C$28,000.00. Over the last three months, insiders purchased 26,000 shares of company stock valued at $698,500.

CI Financial Corp 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.

Analyst Recommendations for CI Financial Corp (TSE:CIX)

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