CI Financial (TSE:CIX) Shares Cross Above Two Hundred Day Moving Average of $15.39

CI Financial Corp. (TSE:CIX - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CIX shares. BMO Capital Markets raised their target price on shares of CI Financial from C$17.00 to C$18.00 and gave the stock a "market perform" rating in a research report on Monday, February 26th. Scotiabank raised their target price on shares of CI Financial from C$19.00 to C$20.00 and gave the stock a "sector perform" rating in a research report on Monday, February 26th. TD Securities upgraded shares of CI Financial from a "buy" rating to an "action list buy" rating and raised their target price for the stock from C$21.00 to C$23.00 in a research report on Monday, February 26th. Raymond James set a C$19.00 price target on CI Financial and gave the stock a "market perform" rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada increased their price target on CI Financial from C$18.00 to C$19.00 and gave the stock a "sector perform" rating in a report on Monday, February 26th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of C$19.50.

CI Financial Trading Down 0.4 %

The company has a quick ratio of 0.17, a current ratio of 0.47 and a debt-to-equity ratio of 151.13. The business has a fifty day simple moving average of C$16.70 and a 200 day simple moving average of C$15.40. The company has a market cap of C$2.50 billion, a price-to-earnings ratio of 46.46, a P/E/G ratio of 0.96 and a beta of 1.64.

CI Financial (TSE:CIX - Get Free Report) last released its earnings results on Friday, February 23rd. The company reported C$0.81 EPS for the quarter, beating analysts' consensus estimates of C$0.73 by C$0.08. CI Financial had a return on equity of 0.29% and a net margin of 0.16%. The company had revenue of C$715.60 million during the quarter, compared to the consensus estimate of C$656.72 million. On average, equities analysts anticipate that CI Financial Corp. will post 3.5093946 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of CI Financial by 23.9% in the first quarter. Geode Capital Management LLC now owns 26,594 shares of the company's stock valued at $481,000 after buying an additional 5,123 shares in the last quarter. BNP Paribas Arbitrage SNC increased its position in shares of CI Financial by 28.7% in the first quarter. BNP Paribas Arbitrage SNC now owns 6,449 shares of the company's stock valued at $117,000 after buying an additional 1,440 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of CI Financial by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 31,055 shares of the company's stock valued at $505,000 after buying an additional 966 shares in the last quarter. Hedge funds and other institutional investors own 10.11% of the company's stock.

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.