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

CI Financial Corp. (TSE:CIX) Director Brigette Elizabeth Chang sold 340,000 shares of the business’s stock in a transaction 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 value of C$46,500.00.

CI Financial Stock Performance

Shares of CI Financial stock traded up C$0.02 during trading hours on Tuesday, hitting C$31.20. 1,188,333 shares of the company’s stock traded hands, compared to its average volume of 697,576. The company has a debt-to-equity ratio of 506.88, a current ratio of 0.32 and a quick ratio of 0.17. The stock has a market capitalization of C$4.50 billion, a price-to-earnings ratio of -65.04, a PEG ratio of 0.04 and a beta of 1.67. CI Financial Corp. has a 12-month low of C$13.87 and a 12-month high of C$31.48. The company has a fifty day simple moving average of C$31.21 and a 200-day simple moving average of C$28.17.

CI Financial Cuts Dividend

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

Wall Street Analyst Weigh In

Separately, Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus 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.