CI Financial Corp. (TSE:CIX – Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$26.15 and traded as high as C$31.21. CI Financial shares last traded at C$31.20, with a volume of 534,619 shares trading hands.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. TD Securities cut shares of CI Financial from a “buy” rating to a “sell” rating and lifted their price objective for the company from C$28.00 to C$32.00 in a research note on Tuesday, November 26th. Keefe, Bruyette & Woods downgraded shares of CI Financial from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. Raymond James lowered shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Finally, CIBC raised their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$27.94.
Check Out Our Latest Stock Analysis on CIX
CI Financial Price Performance
CI Financial Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. CI Financial’s dividend payout ratio (DPR) is presently -166.77%.
CI Financial Company Profile
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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