CI Financial (TSE:CIX) Given New C$25.00 Price Target at CIBC

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CI Financial (TSE:CIX) had its price objective hoisted by CIBC from C$21.00 to C$25.00 in a report published on Tuesday, BayStreet.CA reports.

Several other research analysts have also recently weighed in on the stock. TD Securities boosted their price target on shares of CI Financial from C$20.00 to C$21.00 and gave the stock a hold rating in a report on Friday, November 8th. Royal Bank of Canada upgraded shares of CI Financial from an underperform rating to a sector perform rating and boosted their price target for the stock from C$21.00 to C$23.00 in a report on Friday, December 6th. Canaccord Genuity boosted their price target on shares of CI Financial from C$23.50 to C$25.00 in a report on Monday, November 25th. Finally, BMO Capital Markets boosted their price target on shares of CI Financial from C$22.00 to C$23.00 in a report on Friday, November 8th.

CI Financial stock opened at C$25.09 on Tuesday. CI Financial has a fifty-two week low of C$17.71 and a fifty-two week high of C$25.40. The stock has a market cap of $5.38 billion and a PE ratio of 11.36. The firm’s 50-day simple moving average is C$23.15 and its 200 day simple moving average is C$20.68. The company has a debt-to-equity ratio of 107.56, a quick ratio of 0.64 and a current ratio of 1.12.

In other CI Financial news, Director Sheila A. Murray sold 11,300 shares of CI Financial stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of C$20.85, for a total value of C$235,553.02. Following the sale, the director now owns 85,247 shares of the company’s stock, valued at C$1,777,007.81. Also, Director Lorraine P. Blair sold 2,386 shares of CI Financial stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of C$21.72, for a total transaction of C$51,835.61. Following the completion of the sale, the director now directly owns 20,167 shares in the company, valued at approximately C$438,126.06. In the last ninety days, insiders sold 103,632 shares of company stock worth $2,350,386.

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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