Mike Gramegna Sells 455 Shares of CI Financial Corp (CIX) Stock

CI Financial Corp (TSE:CIX) Director Mike Gramegna sold 455 shares of the company’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of C$28.97, for a total transaction of C$13,181.35.

CI Financial Corp (CIX) traded up C$0.37 during mid-day trading on Thursday, hitting C$29.05. 658,229 shares of the stock traded hands, compared to its average volume of 462,266. CI Financial Corp has a fifty-two week low of C$25.79 and a fifty-two week high of C$29.94.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a $0.117 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Wednesday, November 29th. CI Financial’s dividend payout ratio (DPR) is currently 74.07%.

CIX has been the topic of a number of recent analyst reports. CIBC upped their price target on shares of CI Financial from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research note on Tuesday, October 3rd. Barclays upped their price target on shares of CI Financial from C$30.00 to C$32.00 in a research note on Monday, October 30th. Desjardins upped their price target on shares of CI Financial from C$28.00 to C$29.00 in a research note on Tuesday, October 31st. TD Securities upped their price objective on shares of CI Financial from C$29.00 to C$30.00 and gave the company a “hold” rating in a report on Friday, November 10th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a C$29.00 price objective on shares of CI Financial in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of C$29.86.

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CI Financial Company Profile

CI Financial Corp. (CI) is a wealth management and investment fund company. The Company is engaged in management, marketing, distribution and administration of mutual funds, segregated funds, exchange-traded funds, structured products and other fee-earning investment products for Canadian investors. CI operates through two segments: Asset Management and Asset Administration.

Insider Buying and Selling by Quarter for CI Financial (TSE:CIX)

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