Insider Selling: CI Financial Corp. (TSE:CIX) Director Sells 574 Shares of Stock

CI Financial Corp. (TSE:CIX) Director Jennifer Francine Sinopoli sold 574 shares of CI Financial stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$31.02, for a total value of C$17,805.48. Following the transaction, the director now owns 554 shares of the company’s stock, valued at approximately C$17,185.08. This represents a 50.89 % decrease in their ownership of the stock.

CI Financial Price Performance

TSE:CIX opened at C$30.89 on Wednesday. The stock has a 50 day moving average of C$25.23 and a two-hundred day moving average of C$19.17. CI Financial Corp. has a 12 month low of C$13.87 and a 12 month high of C$31.41. The firm has a market cap of C$4.36 billion, a P/E ratio of -114.41, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.34, a quick ratio of 0.17 and a debt-to-equity ratio of 577.47.

Analysts Set New Price Targets

CIX has been the topic of a number of analyst reports. CIBC raised their price objective on shares of CI Financial from C$23.00 to C$32.00 in a research note on Tuesday, November 26th. Raymond James lifted their price objective on shares of CI Financial from C$27.00 to C$32.00 in a report on Tuesday, November 26th. BMO Capital Markets increased their target price on shares of CI Financial from C$22.00 to C$25.00 in a research note on Friday, November 15th. Jefferies Financial Group lifted their price target on CI Financial from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods downgraded CI Financial from an “outperform” rating to a “market perform” rating and increased their price target for the stock from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of C$27.94.

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.