CI Financial (TSE:CIX) Given New C$19.00 Price Target at BMO Capital Markets

CI Financial (TSE:CIX – Get Rating) had its price target lowered by BMO Capital Markets from C$20.00 to C$19.00 in a report published on Monday morning, BayStreet.CA reports.

Other research analysts have also issued reports about the company. TD Securities increased their target price on CI Financial from C$15.00 to C$16.00 and gave the stock a hold rating in a research report on Friday, November 11th. Scotiabank increased their price target on CI Financial from C$17.00 to C$19.00 in a report on Wednesday, January 25th. Barclays increased their price target on CI Financial from C$20.00 to C$21.00 in a report on Friday, November 11th. Finally, Keefe, Bruyette & Woods increased their price target on CI Financial from C$17.00 to C$18.00 in a report on Wednesday, December 21st.

CI Financial Trading Down 1.6 %

Shares of CI Financial stock opened at C$15.06 on Monday. CI Financial has a fifty-two week low of C$11.85 and a fifty-two week high of C$21.53. The firm has a market cap of C$2.76 billion, a PE ratio of 6.72, a P/E/G ratio of 0.62 and a beta of 1.47. The business’s fifty day moving average is C$15.17 and its two-hundred day moving average is C$14.47. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 244.31.

CI Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, January 13th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.72 annualized dividend and a dividend yield of 4.78%. CI Financial’s dividend payout ratio is presently 32.14%.

Insider Activity

In related news, Senior Officer Darie Urbanky sold 3,982 shares of CI Financial stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of C$13.33, for a total value of C$53,088.82. Following the completion of the transaction, the insider now directly owns 99,926 shares in the company, valued at C$1,332,233.42. Insiders own 11.68% of the company’s stock.

About CI Financial

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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.