CI Financial Corp. (TSE:CIX) Director Brigette Elizabeth Chang Sells 340,000 Shares

CI Financial Corp. (TSE:CIX) Director Brigette Elizabeth Chang sold 340,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of C$31.20, for a total transaction of C$10,608,000.00.

Brigette Elizabeth Chang also recently made the following trade(s):

• On Wednesday, April 9th, Brigette Elizabeth Chang sold 1,500 shares of CI Financial stock. The shares were sold at an average price of C$31.00, for a total transaction of C$46,500.00.

CI Financial Stock Performance

Shares of TSE CIX opened at C$31.20 on Wednesday. The firm’s fifty day moving average is C$31.21 and its two-hundred day moving average is C$28.26. CI Financial Corp. has a 52-week low of C$13.87 and a 52-week high of C$31.48. The company has a market cap of C$4.50 billion, a P/E ratio of -65.04, a P/E/G ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32.

CI Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a $0.20 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. CI Financial’s dividend payout ratio is currently -166.77%.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$27.94.

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.