CI Financial (TSE:CIX) Stock Price Passes Above 200-Day Moving Average of $15.39

CI Financial Corp. (TSE:CIX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$15.39 and traded as high as C$16.47. CI Financial shares last traded at C$16.33, with a volume of 311,772 shares.

Wall Street Analyst Weigh In

CIX has been the subject of several recent analyst reports. Raymond James set a C$19.00 target price on CI Financial and gave the stock a “market perform” rating in a research note on Thursday, February 22nd. Jefferies Financial Group upped their target price on CI Financial from C$19.00 to C$20.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. BMO Capital Markets increased their price target on CI Financial from C$17.00 to C$18.00 and gave the company a “market perform” rating in a research note on Monday, February 26th. Scotiabank increased their price target on CI Financial from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada increased their price target on CI Financial from C$18.00 to C$19.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CI Financial has an average rating of “Hold” and an average price target of C$19.50.

CI Financial Stock Up 1.8 %

The firm has a market capitalization of C$2.55 billion, a price-to-earnings ratio of 47.29, a P/E/G ratio of 0.96 and a beta of 1.64. The stock has a fifty day moving average of C$16.71 and a two-hundred day moving average of C$15.41. The company has a debt-to-equity ratio of 151.13, a current ratio of 0.47 and a quick ratio of 0.17.

CI Financial (TSE:CIX) last posted its quarterly earnings data on Friday, February 23rd. The company reported C$0.81 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.73 by C$0.08. The business had revenue of C$715.60 million during the quarter, compared to the consensus estimate of C$656.72 million. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. Sell-side analysts anticipate that CI Financial Corp. will post 3.5093946 earnings per share for the current year.

Institutional Trading of CI Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SNC grew its holdings in CI Financial by 28.7% during the 1st quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company’s stock worth $117,000 after acquiring an additional 1,440 shares during the period. Geode Capital Management LLC grew its holdings in CI Financial by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 21,471 shares of the company’s stock worth $396,000 after acquiring an additional 748 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in CI Financial by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 31,055 shares of the company’s stock worth $505,000 after acquiring an additional 966 shares during the period. 10.11% of the stock is currently owned by institutional investors and hedge funds.

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.