Insider Selling: CI Financial Corp. (TSE:CIX) Director Sells 340,000 Shares of Stock

CI Financial Corp. (TSE:CIX - Get Free Report) Director Brigette Elizabeth Chang sold 340,000 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were 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 Thursday, April 17th, Brigette Elizabeth Chang sold 60,100 shares of CI Financial stock. The shares were sold at an average price of C$31.20, for a total transaction of C$1,875,120.00.
• On Wednesday, April 9th, Brigette Elizabeth Chang sold 1,500 shares of CI Financial stock. The stock was sold at an average price of C$31.00, for a total transaction of C$46,500.00.

CI Financial Price Performance

CI Financial stock traded up C$0.02 during trading hours on Friday, hitting C$31.19. 297,644 shares of the stock were exchanged, compared to its average volume of 691,847. The stock has a market capitalization of C$4.50 billion, a P/E ratio of -65.02, a P/E/G ratio of 0.04 and a beta of 1.67. The business's 50-day moving average is C$31.21 and its two-hundred day moving average is C$28.46. 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 Corp. has a 12 month low of C$13.87 and a 12 month high of C$31.48.

CI Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was 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 (DPR) is presently -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 research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, CI Financial has a consensus rating of "Hold" and an average price target 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.