CI Financial Corp (NYSE:CIXX) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 623,300 shares, a growth of 41.8% from the December 15th total of 439,500 shares. Based on an average daily trading volume, of 49,000 shares, the short-interest ratio is currently 12.7 days. Currently, 0.4% of the company’s stock are sold short.
Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of CI Financial by 0.7% in the second quarter. Geode Capital Management LLC now owns 77,871 shares of the company’s stock worth $1,535,000 after buying an additional 524 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in CI Financial by 1.4% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 79,190 shares of the company’s stock worth $1,606,000 after purchasing an additional 1,119 shares during the period. Advisor Group Holdings Inc. increased its holdings in CI Financial by 851.0% during the 2nd quarter. Advisor Group Holdings Inc. now owns 1,417 shares of the company’s stock worth $27,000 after purchasing an additional 1,268 shares during the period. Public Sector Pension Investment Board increased its holdings in CI Financial by 0.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 492,928 shares of the company’s stock worth $10,004,000 after purchasing an additional 1,946 shares during the period. Finally, AXA S.A. increased its holdings in CI Financial by 1.5% during the 2nd quarter. AXA S.A. now owns 226,600 shares of the company’s stock worth $4,165,000 after purchasing an additional 3,400 shares during the period. 43.58% of the stock is owned by institutional investors and hedge funds.
CIXX has been the topic of a number of recent analyst reports. Desjardins boosted their target price on shares of CI Financial from C$31.00 to C$34.00 and gave the stock a “buy” rating in a report on Monday, November 15th. Royal Bank of Canada upped their price objective on shares of CI Financial from C$32.00 to C$34.00 and gave the stock an “outperform” rating in a research report on Friday, November 12th. CIBC boosted their target price on CI Financial from C$35.00 to C$37.00 and gave the stock an “outperform” rating in a research note on Friday, November 12th. Scotiabank upped their price objective on CI Financial from C$27.00 to C$32.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 26th. Finally, Zacks Investment Research cut CI Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 11th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, CI Financial currently has a consensus rating of “Buy” and an average price target of $30.17.
Shares of NYSE:CIXX traded down $0.26 during midday trading on Monday, reaching $20.72. 4,414 shares of the company’s stock traded hands, compared to its average volume of 60,280. The company has a market capitalization of $4.12 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 0.90 and a beta of 0.36. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 2.18. CI Financial has a one year low of $12.36 and a one year high of $24.52. The stock’s 50 day moving average price is $22.02.
CI Financial (NYSE:CIXX) last released its quarterly earnings data on Thursday, November 11th. The company reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. CI Financial had a return on equity of 38.28% and a net margin of 15.41%. The firm had revenue of $525.23 million during the quarter. Equities research analysts anticipate that CI Financial will post 2.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 14th. Stockholders of record on Thursday, March 31st will be paid a $0.1447 dividend. This represents a $0.58 annualized dividend and a dividend yield of 2.79%. This is a positive change from CI Financial’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, March 30th. CI Financial’s dividend payout ratio (DPR) is presently 37.84%.
CI Financial Company Profile
CI Financial Corp. is an independent company offering global asset management and wealth management advisory services. It operates through the following business segments: Asset Management and Wealth Management. The Asset Management segment provides the majority of CI’s income and derives its revenue principally from the fees earned on the management of investment funds and other fee-earning investment products.