Scotiabank Cuts CI Financial (TSE:CIX) Price Target to C$13.00

CI Financial (TSE:CIX) had its price objective decreased by Scotiabank from C$26.00 to C$13.00 in a research note issued to investors on Tuesday, BayStreet.CA reports.

A number of other research analysts also recently weighed in on CIX. TD Securities raised their target price on shares of CI Financial from C$25.00 to C$27.00 and gave the company a hold rating in a research report on Tuesday, February 18th. CIBC raised their target price on shares of CI Financial from C$25.00 to C$26.00 in a research report on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of CI Financial from C$26.00 to C$28.00 and gave the company a sector perform rating in a research report on Tuesday, February 18th. Finally, Canaccord Genuity raised their target price on shares of CI Financial from C$27.00 to C$29.00 in a research report on Tuesday, February 18th.

CI Financial stock opened at C$13.85 on Tuesday. The company has a market cap of $2.77 billion and a P/E ratio of 6.05. CI Financial has a 1-year low of C$11.12 and a 1-year high of C$25.81. The company has a fifty day simple moving average of C$20.68 and a 200 day simple moving average of C$20.82. The company has a current ratio of 0.70, a quick ratio of 0.38 and a debt-to-equity ratio of 111.85.

CI Financial (TSE:CIX) last released its earnings results on Friday, February 14th. The company reported C$0.66 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.63 by C$0.03. The business had revenue of C$534.70 million during the quarter. On average, equities research analysts forecast that CI Financial will post 2.6400002 EPS for the current year.

In other news, Director William Thomas Holland acquired 100,000 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was bought at an average price of C$15.75 per share, with a total value of C$1,575,000.00. Following the transaction, the director now directly owns 106,920 shares in the company, valued at approximately C$1,683,990. Also, Director Sheila A. Murray sold 41,211 shares of CI Financial stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of C$23.40, for a total transaction of C$964,230.25. Following the completion of the transaction, the director now directly owns 85,684 shares of the company’s stock, valued at approximately C$2,004,782.82. In the last three months, insiders sold 171,211 shares of company stock valued at $4,190,661.

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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