Home Alternative Investments CI Financial Corp. (TSE:CIX) Director Roy Ratnavel Sells 1,825 Shares

CI Financial Corp. (TSE:CIX) Director Roy Ratnavel Sells 1,825 Shares

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CI Financial Corp. (TSE:CIXGet Rating) Director Roy Ratnavel sold 1,825 shares of the stock in a transaction dated Wednesday, December 21st. The stock was sold at an average price of C$13.33, for a total transaction of C$24,331.27. Following the sale, the director now owns 182,209 shares of the company’s stock, valued at approximately C$2,429,246.83.

CI Financial Price Performance

Shares of CIX traded down C$0.35 during mid-day trading on Friday, reaching C$13.26. 339,591 shares of the company’s stock were exchanged, compared to its average volume of 746,742. The company has a quick ratio of 0.17, a current ratio of 0.60 and a debt-to-equity ratio of 244.31. The company has a 50-day simple moving average of C$13.85 and a two-hundred day simple moving average of C$14.16. CI Financial Corp. has a 52-week low of C$11.85 and a 52-week high of C$28.10. The company has a market cap of C$2.43 billion and a price-to-earnings ratio of 5.92.

CI Financial (TSE:CIXGet Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported C$0.73 earnings per share for the quarter. The business had revenue of C$513.62 million for the quarter. On average, sell-side analysts predict that CI Financial Corp. will post 3.29 EPS for the current fiscal year.

CI Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.18 per share. The ex-dividend date is Thursday, December 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.43%. CI Financial’s dividend payout ratio (DPR) is 32.14%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CIX shares. Barclays raised their price objective on shares of CI Financial from C$20.00 to C$21.00 in a research report on Friday, November 11th. Keefe, Bruyette & Woods raised their price objective on shares of CI Financial from C$17.00 to C$18.00 in a research report on Wednesday. BMO Capital Markets dropped their target price on shares of CI Financial from C$21.00 to C$19.00 in a report on Thursday, October 27th. TD Securities increased their target price on shares of CI Financial from C$15.00 to C$16.00 and gave the company a “hold” rating in a report on Friday, November 11th. Finally, Scotiabank dropped their target price on shares of CI Financial from C$18.00 to C$17.00 in a report on Monday, October 31st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of C$18.69.

About CI Financial

(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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