Shares of CI Financial Corp (TSE:CIX) have been assigned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is C$30.33.
CIX has been the subject of a number of recent analyst reports. Barclays increased their price target on CI Financial from C$30.00 to C$32.00 in a research report on Monday, October 30th. Desjardins increased their price target on CI Financial from C$28.00 to C$29.00 in a research report on Tuesday, October 31st. TD Securities increased their price target on CI Financial from C$29.00 to C$30.00 and gave the company a “hold” rating in a research report on Friday, November 10th. Finally, CIBC increased their price objective on CI Financial from C$32.50 to C$33.00 in a research note on Monday, November 13th.
In other news, Director Neal A. Kerr sold 3,800 shares of the firm’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of C$29.59, for a total transaction of C$112,442.00. Also, Director Neal A. Kerr sold 4,500 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of C$30.12, for a total value of C$135,540.00. Over the last three months, insiders sold 10,407 shares of company stock valued at $309,678.
CI Financial (TSE:CIX) last released its quarterly earnings results on Thursday, November 9th. The company reported C$0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$0.53 by C$0.02. CI Financial had a return on equity of 34.82% and a net margin of 27.93%. The business had revenue of C$504.10 million during the quarter.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 15th will be paid a $0.1175 dividend. This is an increase from CI Financial’s previous monthly dividend of $0.12. This represents a $1.41 annualized dividend and a yield of 4.88%. The ex-dividend date is Tuesday, January 30th. CI Financial’s dividend 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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