CI Financial (CIX) Sets New 52-Week High at $29.73
CI Financial Corp (TSE:CIX) shares 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 trading hands. The stock had previously closed at C$29.49.
CIX has been the subject of a number of recent research reports. Barclays lowered their price objective on CI Financial from C$32.00 to C$31.00 in a research note on Monday, November 13th. CIBC lifted their target price on CI Financial from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a report on Tuesday, October 3rd. 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 lifted their target price on 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 lifted their target price on CI Financial from C$28.00 to C$29.00 in a report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of C$29.86.
The company also recently disclosed a monthly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.117 dividend. 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 currently 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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