CI Financial (TSE:CIX) Hits New 52-Week High – Still a Buy?

CI Financial Corp. (TSE:CIX) reached a new 52-week high during trading on Wednesday . The stock traded as high as C$31.65 and last traded at C$31.63, with a volume of 264360 shares trading hands. The stock had previously closed at C$31.59.

Wall Street Analyst Weigh In

Separately, Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd.

CI Financial Stock Up 0.1%

The business has a fifty day moving average of C$31.22 and a 200 day moving average of C$30.09. The firm has a market cap of C$4.56 billion, a P/E ratio of -65.94, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 506.88.

CI Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.53%. CI Financial’s dividend payout ratio is presently -166.77%.

Insider Buying and Selling at CI Financial

In related news, Director Brigette Elizabeth Chang sold 340,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of C$31.20, for a total value of C$10,608,000.00. Over the last ninety days, insiders sold 401,600 shares of company stock valued at $12,529,620. Company insiders own 15.83% 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.