Douglas J.R. Jamieson Buys 1,800 Shares of CI Financial Corp (CIX) Stock

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CI Financial Corp (TSE:CIX) insider Douglas J.R. Jamieson acquired 1,800 shares of CI Financial stock in a transaction on Wednesday, September 5th. The stock was purchased at an average price of C$20.59 per share, with a total value of C$37,062.00.

Shares of CI Financial stock traded down C$0.52 during midday trading on Wednesday, hitting C$20.46. 726,449 shares of the company were exchanged, compared to its average volume of 629,221. CI Financial Corp has a 52 week low of C$20.46 and a 52 week high of C$30.23.

CI Financial (TSE:CIX) last posted its earnings results on Thursday, August 9th. The company reported C$0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.60 by C$0.01. The business had revenue of C$564.60 million during the quarter. CI Financial had a return on equity of 28.22% and a net margin of 21.66%.

The business also recently announced a monthly dividend, which was paid on Wednesday, August 15th. Investors of record on Wednesday, August 15th were given a dividend of $0.1175 per share. The ex-dividend date was Monday, July 30th. This represents a $1.41 annualized dividend and a dividend yield of 6.89%.

CIX has been the subject of a number of research reports. Barclays reduced their price objective on CI Financial from C$31.00 to C$29.00 in a research report on Friday, May 11th. Canaccord Genuity reduced their price objective on CI Financial from C$32.00 to C$30.00 in a research report on Friday, May 11th. Desjardins reduced their price objective on CI Financial from C$27.00 to C$26.00 in a research report on Friday, May 11th. BMO Capital Markets reduced their price objective on CI Financial from C$32.00 to C$29.00 in a research report on Friday, May 11th. Finally, TD Securities reduced their price objective on CI Financial from C$25.00 to C$24.00 in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. CI Financial has an average rating of “Hold” and a consensus target price of C$25.75.

About CI Financial

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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