CI Financial Corp (CIX) Receives Consensus Recommendation of “Hold” from Brokerages
CI Financial Corp (TSE:CIX) has received a consensus rating of “Hold” from the six analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$28.60.
A number of research analysts have recently weighed in on CIX shares. Scotiabank cut their price objective on 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. TD Securities raised their price objective on CI Financial Corp from C$28.00 to C$29.00 and gave the company a “hold” rating in a research report on Friday, August 11th.
CI Financial Corp (TSE:CIX) traded down 1.06% during trading on Wednesday, hitting $27.15. The stock had a trading volume of 402,186 shares. CI Financial Corp has a 52-week low of $23.52 and a 52-week high of $29.94. The company has a 50-day moving average of $27.09 and a 200 day moving average of $26.98. The firm has a market cap of $7.01 billion and a P/E ratio of 14.77.
The company also recently disclosed a monthly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.117 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.17%.
In related news, Director Roy Ratnavel purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average price of C$26.86 per share, for a total transaction of C$402,900.00.
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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