CI Financial Corp (CIX) Given Average Recommendation of “Hold” by Analysts
CI Financial Corp (TSE:CIX) has been given an average rating of “Hold” by the nine analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is C$29.00.
A number of equities research analysts recently commented on the stock. Barclays PLC restated an “overweight” rating and issued a C$30.00 price objective on shares of CI Financial Corp in a research report on Thursday, May 11th. Scotiabank reduced their price objective on shares of CI Financial Corp from C$29.00 to C$28.00 and set a “sector perform” rating for the company in a research report on Friday, May 12th.
Shares of CI Financial Corp (TSE CIX) traded up 0.33% during trading on Tuesday, hitting $27.74. The stock had a trading volume of 272,964 shares. The stock has a market cap of $7.26 billion and a price-to-earnings ratio of 14.31. CI Financial Corp has a 12-month low of $23.52 and a 12-month high of $29.94. The stock’s 50-day moving average is $26.90 and its 200-day moving average is $27.31.
The business also recently declared a monthly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.1175 per share. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.08%. This is an increase from CI Financial Corp’s previous monthly dividend of $0.12. The ex-dividend date is Thursday, July 27th.
About CI Financial Corp
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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