CI Financial (CIX) Receives a Hold from Barclays

A Wall Street analyst has provided a rating update for the Financial sector company on May 10, while remaining neutral on the stock. Analyst John Aiken from Barclays reiterated a Hold rating, with a C$21 price target on May 10.

According to TipRanks.com, Aiken is a 1-star analyst with an average return of -1.3% and a 42.1% success rate. Aiken covers the Financial sector, focusing on stocks such as Canadian Bank of Commerce, Manulife Financial Corp, and National Bank of Canada.

CI Financial has an analyst consensus of Hold, with a price target consensus of C$22.

Based on CI Financial’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of C$140 million. In comparison, last year the company had a net profit of C$159 million.

CI Financial Corp. engages in the business of management, marketing, distribution, and administration of investment funds. It operates in the Asset Management and Asset Administration segments. The Asset Management segment includes fees earned on the management of mutual, segregated, pooled and closed-end funds, structured products and discretionary accounts.

The company’s shares closed on Wednesday at C$20.75.

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