CI Financial (TSE:CIX) had its target price increased by stock analysts at Royal Bank of Canada from C$19.00 to C$20.00 in a research report issued on Friday. The brokerage presently has an “underperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 0.15% from the company’s current price.
CIX has been the subject of several other reports. TD Securities increased their price target on CI Financial from C$20.00 to C$21.00 and gave the stock a “hold” rating in a report on Friday. CIBC lowered their price target on CI Financial from C$25.00 to C$21.00 in a report on Tuesday, October 30th. BMO Capital Markets lowered their price target on CI Financial from C$26.00 to C$25.00 in a report on Monday, October 29th. Canaccord Genuity lowered their price target on CI Financial from C$27.00 to C$23.00 in a report on Monday, October 29th. Finally, Barclays lowered their price target on CI Financial from C$24.00 to C$21.00 in a report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of C$23.13.
TSE CIX traded up C$0.28 on Friday, reaching C$19.97. The company had a trading volume of 873,995 shares, compared to its average volume of 685,309. The company has a current ratio of 0.74, a quick ratio of 0.47 and a debt-to-equity ratio of 82.07. CI Financial has a 52 week low of C$18.38 and a 52 week high of C$30.23.
In other news, insider Douglas J.R. Jamieson acquired 1,800 shares of CI Financial stock in a transaction dated Wednesday, September 5th. The stock was bought at an average cost of C$20.59 per share, with a total value of C$37,062.00. Also, Director Roy Ratnavel acquired 10,000 shares of CI Financial stock in a transaction dated Monday, August 20th. The shares were purchased at an average cost of C$21.55 per share, with a total value of C$215,500.00. Insiders acquired 218,300 shares of company stock valued at $4,383,822 over the last 90 days.
About CI Financial
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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