CI Financial (TSE:CIX) Stock Price Up 1.3%

CI Financial Corp. (TSE:CIX)’s share price rose 1.3% during trading on Monday . The company traded as high as C$25.59 and last traded at C$25.43. Approximately 599,351 shares traded hands during trading, a decline of 33% from the average daily volume of 893,049 shares. The stock had previously closed at C$25.10.

CIX has been the subject of a number of analyst reports. TD Securities upped their price objective on shares of CI Financial from C$24.00 to C$26.00 and gave the stock a “na” rating in a research report on Thursday, July 15th. Scotiabank upped their price objective on shares of CI Financial from C$24.00 to C$26.00 and gave the stock a “sector perform” rating in a research report on Tuesday, July 20th. Keefe, Bruyette & Woods upped their price objective on shares of CI Financial to C$29.00 in a research report on Wednesday, August 11th. BMO Capital Markets increased their price target on shares of CI Financial to C$30.00 in a report on Wednesday, August 11th. Finally, CIBC upgraded shares of CI Financial to an “outperform” rating in a report on Wednesday, August 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of C$28.00.

The stock has a market capitalization of C$5.25 billion and a price-to-earnings ratio of 11.45. The stock’s 50 day moving average is C$23.79 and its 200 day moving average is C$21.59. The company has a current ratio of 1.21, a quick ratio of 0.63 and a debt-to-equity ratio of 214.03.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Thursday, July 15th were paid a $0.18 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.76%. CI Financial’s payout ratio is 31.59%.

About CI Financial (TSE:CIX)

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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