CI Financial (TSE:CIX) Hits New 52-Week High at $17.47

Shares of CI Financial Corp. (TSE:CIX) hit a new 52-week high during trading on Wednesday . The company traded as high as C$17.47 and last traded at C$17.55, with a volume of 173226 shares traded. The stock had previously closed at C$17.41.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CIX shares. TD Securities cut their target price on CI Financial from C$21.00 to C$20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Jefferies Financial Group boosted their target price on CI Financial from C$19.00 to C$20.00 in a report on Monday, July 29th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$19.38.

CI Financial Trading Down 1.3 %

The company has a 50 day simple moving average of C$16.47 and a 200 day simple moving average of C$16.05. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47. The stock has a market capitalization of C$2.54 billion, a PE ratio of -65.30, a P/E/G ratio of 0.04 and a beta of 1.67.

CI Financial (TSE:CIX) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.90 EPS for the quarter. The company had revenue of C$985.96 million during the quarter. CI Financial had a negative net margin of 1.54% and a negative return on equity of 4.48%. Analysts predict that CI Financial Corp. will post 3.5303644 earnings per share for the current fiscal year.

Insider Transactions at CI Financial

In related news, Senior Officer Manisha Burman sold 11,953 shares of the company’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of C$14.23, for a total transaction of C$170,136.61. Company insiders own 15.56% 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.