CI Financial (TSE:CIX) Upgraded at Royal Bank of Canada

CI Financial (TSE:CIX) was upgraded by Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a report released on Friday, BayStreet.CA reports. The firm presently has a C$23.00 price objective on the stock, up from their prior price objective of C$21.00. Royal Bank of Canada’s price target would suggest a potential upside of 4.88% from the stock’s current price.

CIX has been the subject of a number of other research reports. TD Securities raised their target price on CI Financial from C$20.00 to C$21.00 and gave the company a “hold” rating in a research note on Friday, November 8th. BMO Capital Markets upped their price target on CI Financial from C$22.00 to C$23.00 in a research note on Friday, November 8th. Canaccord Genuity upped their price target on CI Financial from C$23.50 to C$25.00 in a research note on Monday, November 25th. Finally, CIBC decreased their price objective on CI Financial from C$22.00 to C$21.00 in a report on Friday, August 9th.

CIX traded up C$0.87 on Friday, hitting C$21.93. The company had a trading volume of 381,712 shares, compared to its average volume of 576,305. The stock has a fifty day simple moving average of C$20.17 and a 200-day simple moving average of C$20.09. The company has a debt-to-equity ratio of 107.56, a current ratio of 1.12 and a quick ratio of 0.64. The firm has a market capitalization of $4.75 billion and a P/E ratio of 9.94. CI Financial has a 52-week low of C$16.47 and a 52-week high of C$22.24.

In other news, Director Sheila A. Murray sold 11,300 shares of CI Financial stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of C$20.85, for a total transaction of C$235,553.02. Following the completion of the transaction, the director now directly owns 85,247 shares in the company, valued at C$1,777,007.81.

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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