CI Financial (NYSE:CIXX) Hits New 52-Week Low at $10.63

CI Financial Corp. (NYSE:CIXXGet Rating)’s stock price hit a new 52-week low on Friday . The company traded as low as $10.63 and last traded at $10.63, with a volume of 479 shares. The stock had previously closed at $10.78.

Several research analysts have recently commented on CIXX shares. CIBC decreased their price target on shares of CI Financial from C$28.00 to C$23.00 in a report on Monday, May 16th. BMO Capital Markets decreased their target price on CI Financial from C$26.00 to C$25.00 in a research note on Friday, May 13th. Scotiabank lowered their target price on CI Financial from C$25.00 to C$21.00 in a report on Friday, May 13th. TD Securities cut their target price on CI Financial from C$19.00 to C$16.00 in a research note on Friday, May 13th. Finally, Canaccord Genuity Group dropped their price target on shares of CI Financial from C$27.50 to C$23.50 in a research note on Monday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, CI Financial currently has a consensus rating of “Buy” and a consensus price target of $24.50.

The stock has a market capitalization of $2.08 billion, a P/E ratio of 6.38, a price-to-earnings-growth ratio of 0.51 and a beta of 1.35. The business has a 50 day simple moving average of $12.74 and a 200-day simple moving average of $16.58. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.65 and a current ratio of 0.65.

CI Financial (NYSE:CIXXGet Rating) last announced its earnings results on Thursday, May 12th. The company reported $0.67 earnings per share for the quarter. CI Financial had a return on equity of 40.37% and a net margin of 15.56%. The business had revenue of $500.33 million during the quarter. Equities research analysts forecast that CI Financial Corp. will post 2.79 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.1391 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.56 annualized dividend and a dividend yield of 5.15%. CI Financial’s dividend payout ratio is currently 33.93%.

Several hedge funds and other institutional investors have recently made changes to their positions in CIXX. Franklin Resources Inc. increased its stake in CI Financial by 57.5% in the 3rd quarter. Franklin Resources Inc. now owns 236,292 shares of the company’s stock worth $4,790,000 after purchasing an additional 86,291 shares in the last quarter. Morgan Stanley raised its stake in CI Financial by 32.0% during the 3rd quarter. Morgan Stanley now owns 618,668 shares of the company’s stock valued at $12,602,000 after purchasing an additional 149,906 shares during the period. Marshall Wace LLP purchased a new stake in shares of CI Financial in the third quarter valued at $935,000. Point72 Asset Management L.P. acquired a new stake in shares of CI Financial in the third quarter worth $3,274,000. Finally, Millennium Management LLC grew its holdings in shares of CI Financial by 149.0% during the third quarter. Millennium Management LLC now owns 250,728 shares of the company’s stock valued at $5,099,000 after buying an additional 150,015 shares in the last quarter. 43.66% of the stock is owned by institutional investors and hedge funds.

CI Financial Company Profile (NYSE:CIXX)

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.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for CI Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CI Financial and related companies with MarketBeat.com's FREE daily email newsletter.