CI Financial (TSE:CIX) Shares Cross Above 200 Day Moving Average of $17.24

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CI Financial Corp (TSE:CIX)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$17.24 and traded as high as C$19.42. CI Financial shares last traded at C$19.09, with a volume of 1,164,526 shares changing hands.

A number of brokerages have recently weighed in on CIX. Royal Bank of Canada upgraded CI Financial from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$19.00 to C$24.00 in a research note on Friday, February 12th. Canaccord Genuity raised their target price on CI Financial from C$24.00 to C$25.00 in a research note on Friday, February 12th. CIBC raised their target price on CI Financial from C$18.50 to C$20.00 in a research note on Friday, February 12th. TD Securities raised their target price on CI Financial from C$20.00 to C$22.00 and gave the company a “buy” rating in a research note on Friday, February 12th. Finally, Scotiabank lowered their price objective on CI Financial from C$22.00 to C$21.00 in a research report on Friday, February 12th.

The stock has a 50-day moving average of C$18.31 and a 200 day moving average of C$17.24. The company has a debt-to-equity ratio of 158.51, a current ratio of 0.99 and a quick ratio of 0.46. The stock has a market capitalization of C$3.99 billion and a price-to-earnings ratio of 8.64.

CI Financial (TSE:CIX) last announced its quarterly earnings data on Thursday, February 11th. The company reported C$0.71 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.64 by C$0.07. The firm had revenue of C$564.40 million during the quarter. Sell-side analysts anticipate that CI Financial Corp will post 2.9100001 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Thursday, April 15th will be given a $0.18 dividend. The ex-dividend date is Tuesday, March 30th. This represents a $0.72 dividend on an annualized basis and a yield of 3.77%. CI Financial’s payout ratio is 32.58%.

In related news, Director William Thomas Holland bought 150,000 shares of CI Financial stock in a transaction on Thursday, January 14th. The shares were purchased at an average price of C$16.25 per share, for a total transaction of C$2,437,500.00. Following the completion of the acquisition, the director now owns 456,920 shares in the company, valued at C$7,424,950. In the last 90 days, insiders have acquired 367,500 shares of company stock worth $6,166,915.

About CI Financial (TSE:CIX)

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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