CI Financial (NYSE:CIXX) Price Target Lowered to C$23.00 at CIBC

CI Financial (NYSE:CIXXGet Rating) had its price target lowered by stock analysts at CIBC from C$28.00 to C$23.00 in a research note issued to investors on Monday, The Fly reports.

CIXX has been the subject of a number of other research reports. BMO Capital Markets cut their target price on shares of CI Financial from C$26.00 to C$25.00 in a research report on Friday. Scotiabank cut their price objective on shares of CI Financial from C$25.00 to C$21.00 in a research report on Friday. Royal Bank of Canada lowered shares of CI Financial from an “outperform” rating to a “sector perform” rating in a research report on Monday. Canaccord Genuity Group cut their price objective on shares of CI Financial from C$32.00 to C$27.50 in a research report on Tuesday, May 3rd. Finally, TD Securities cut their price objective on shares of CI Financial from C$19.00 to C$16.00 in a research report on Friday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $24.94.

Shares of NYSE:CIXX traded down $0.41 during trading on Monday, reaching $11.15. The stock had a trading volume of 7,906 shares, compared to its average volume of 75,979. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 6.64, a P/E/G ratio of 0.52 and a beta of 1.35. CI Financial has a 52 week low of $10.66 and a 52 week high of $24.52. The firm’s fifty day moving average is $14.62 and its 200 day moving average is $18.46. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.68 and a current ratio of 0.68.

CI Financial (NYSE:CIXXGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported $0.67 earnings per share (EPS) for the quarter. The business had revenue of $500.33 million during the quarter. CI Financial had a net margin of 15.56% and a return on equity of 40.40%. On average, research analysts forecast that CI Financial will post 2.79 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. bought a new position in shares of CI Financial during the 1st quarter valued at approximately $89,000. DGS Capital Management LLC purchased a new stake in CI Financial in the fourth quarter worth $245,000. Laurus Investment Counsel Inc. boosted its holdings in CI Financial by 12.8% in the fourth quarter. Laurus Investment Counsel Inc. now owns 12,875 shares of the company’s stock worth $344,000 after acquiring an additional 1,465 shares in the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of CI Financial during the first quarter worth about $207,000. Finally, Prudential PLC acquired a new stake in shares of CI Financial in the first quarter worth approximately $312,000. 43.66% of the stock is owned by institutional investors.

About CI Financial (Get Rating)

CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries.

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