CI Financial Corp. (NYSE:CIXX – Get Rating) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 749,700 shares, a growth of 97.8% from the May 15th total of 379,100 shares. Based on an average trading volume of 62,500 shares, the short-interest ratio is presently 12.0 days. Approximately 0.4% of the company’s shares are short sold.
Several brokerages have recently weighed in on CIXX. Royal Bank of Canada downgraded shares of CI Financial from an “outperform” rating to a “sector perform” rating in a research note on Monday, May 16th. CIBC decreased their target price on shares of CI Financial from C$28.00 to C$23.00 in a research note on Monday, May 16th. Canaccord Genuity Group decreased their target price on shares of CI Financial from C$27.50 to C$23.50 in a research note on Monday, May 16th. TD Securities decreased their target price on shares of CI Financial from C$19.00 to C$16.00 in a research note on Friday, May 13th. Finally, BMO Capital Markets decreased their target price on shares of CI Financial from C$26.00 to C$25.00 in a research note on Friday, May 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, CI Financial has an average rating of “Buy” and a consensus target price of $24.50.
Shares of CIXX opened at $11.70 on Monday. The firm has a market cap of $2.29 billion, a PE ratio of 6.96, a PEG ratio of 0.52 and a beta of 1.35. The firm’s 50 day moving average price is $13.08 and its 200 day moving average price is $16.82. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.65 and a current ratio of 0.65. CI Financial has a twelve month low of $10.66 and a twelve month high of $24.52.
CI Financial (NYSE:CIXX – Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported $0.67 earnings per share for the quarter. CI Financial had a net margin of 15.56% and a return on equity of 40.37%. The firm had revenue of $500.33 million for the quarter. On average, sell-side analysts anticipate that CI Financial will post 2.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.1391 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.56 annualized dividend and a dividend yield of 4.76%. CI Financial’s dividend payout ratio is presently 33.93%.
Several large investors have recently modified their holdings of the company. Power Corp of Canada bought a new stake in CI Financial during the 1st quarter worth about $29,000. NN Investment Partners Holdings N.V. bought a new stake in shares of CI Financial in the 1st quarter valued at about $89,000. Ilmarinen Mutual Pension Insurance Co acquired a new position in shares of CI Financial in the 1st quarter valued at approximately $207,000. Laurus Investment Counsel Inc. grew its position in shares of CI Financial by 16.5% in the 1st quarter. Laurus Investment Counsel Inc. now owns 15,000 shares of the company’s stock valued at $239,000 after purchasing an additional 2,125 shares during the period. Finally, DGS Capital Management LLC acquired a new position in shares of CI Financial in the 4th quarter valued at approximately $245,000. Institutional investors own 43.66% of the company’s stock.
CI Financial Company Profile (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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