CI Financial Corp. (NYSE:CIXX – Get Rating) has earned a consensus rating of “Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $23.75.
A number of brokerages have recently weighed in on CIXX. CIBC lowered their target price on CI Financial from C$28.00 to C$23.00 in a research note on Monday, May 16th. Royal Bank of Canada lowered CI Financial from an “outperform” rating to a “sector perform” rating in a research report on Monday, May 16th. BMO Capital Markets lowered their price objective on CI Financial from C$26.00 to C$25.00 in a research report on Friday, May 13th. TD Securities lowered their price objective on CI Financial from C$19.00 to C$16.00 in a research report on Friday, May 13th. Finally, Scotiabank lowered their price objective on CI Financial from C$25.00 to C$21.00 in a research report on Friday, May 13th.
A number of institutional investors and hedge funds have recently modified their holdings of CIXX. Norges Bank bought a new position in CI Financial during the fourth quarter worth about $39,671,000. AGF Investments Inc. lifted its holdings in shares of CI Financial by 157.8% during the 1st quarter. AGF Investments Inc. now owns 2,563,499 shares of the company’s stock valued at $40,724,000 after purchasing an additional 1,569,057 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of CI Financial by 597.0% during the 4th quarter. Point72 Asset Management L.P. now owns 1,123,592 shares of the company’s stock valued at $23,500,000 after purchasing an additional 962,392 shares in the last quarter. Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of CI Financial by 129.8% during the 4th quarter. Lombard Odier Asset Management Switzerland SA now owns 1,500,000 shares of the company’s stock valued at $39,660,000 after purchasing an additional 847,191 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of CI Financial by 179.9% during the 1st quarter. Renaissance Technologies LLC now owns 1,203,100 shares of the company’s stock valued at $19,141,000 after purchasing an additional 773,239 shares in the last quarter. Hedge funds and other institutional investors own 43.66% of the company’s stock.
CI Financial (NYSE:CIXX – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported $0.67 earnings per share for the quarter. CI Financial had a return on equity of 40.37% and a net margin of 15.56%. The company had revenue of $500.33 million during the quarter. On average, analysts anticipate that CI Financial will post 2.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.1391 per share. This represents a $0.56 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date is Thursday, September 29th. CI Financial’s dividend payout ratio (DPR) is currently 33.93%.
CI Financial Company Profile (Get Rating)
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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