Insider Buying: CI Financial Corp (CIX) Insider Acquires 1,000 Shares of Stock
CI Financial Corp (TSE:CIX) insider Douglas J.R. Jamieson purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was acquired at an average cost of C$28.00 per share, with a total value of C$28,000.00.
Shares of CI Financial Corp (TSE:CIX) traded down 0.25% during trading on Tuesday, reaching $27.95. The company’s stock had a trading volume of 216,286 shares. CI Financial Corp has a one year low of $23.52 and a one year high of $29.94. The company has a 50-day moving average price of $27.38 and a 200-day moving average price of $27.08. The stock has a market cap of $7.21 billion and a price-to-earnings ratio of 15.21.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.1175 per share. This is a boost from CI Financial Corp’s previous monthly dividend of $0.12. This represents a $1.41 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Monday, October 30th.
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A number of analysts recently commented on CIX shares. TD Securities raised their price target on CI Financial Corp from C$28.00 to C$29.00 and gave the stock a “hold” rating in a research note on Friday, August 11th. Scotiabank raised their price target on CI Financial Corp from C$28.00 to C$30.00 and gave the stock a “sector perform” rating in a research note on Friday, August 11th. BMO Capital Markets reissued a “market perform” rating and set a C$29.00 price objective on shares of CI Financial Corp in a research report on Monday, September 18th. Finally, CIBC raised their price objective on CI Financial Corp from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of C$29.43.
CI Financial Corp Company Profile
CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.
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