CI Financial Corp (TSE:CIX) has been assigned an average rating of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and two have issued a hold rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$23.13.
CIX has been the subject of several recent research reports. BMO Capital Markets lowered their price target on CI Financial from C$26.00 to C$25.00 in a research note on Monday, October 29th. CIBC lowered their price target on CI Financial from C$25.00 to C$21.00 in a research note on Tuesday, October 30th. Desjardins lowered their price target on CI Financial from C$25.00 to C$24.00 in a research note on Friday, August 10th. Canaccord Genuity lowered their price target on CI Financial from C$30.00 to C$27.00 in a research note on Tuesday, July 31st. Finally, Barclays cut CI Financial from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from C$29.00 to C$24.00 in a research note on Friday, August 10th.
In related news, insider Douglas J.R. Jamieson bought 1,800 shares of CI Financial stock in a transaction that occurred on Wednesday, September 5th. The stock was purchased at an average cost of C$20.59 per share, for a total transaction of C$37,062.00. Also, Director William Thomas Holland bought 50,000 shares of CI Financial stock in a transaction that occurred on Friday, October 5th. The stock was bought at an average price of C$19.65 per share, with a total value of C$982,500.00. In the last three months, insiders purchased 151,800 shares of company stock valued at $2,979,562.
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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