Alternative Investment

Wealth Management Services of Texas Capital Bank Inc. CI Financial Corp. receives a $574,000 investment (NYSE:CIXX)

During the third quarter, Texas Capital Bank Wealth Management Services Inc. made a new investment in CI Financial Corp. (NYSE: CIXX), as stated in the most recent report that the company submitted to the Securities and Exchange Commission (SEC). The institutional investor spent approximately $574,500 to acquire 60,000 shares of the company’s stock, bringing the total cost of the transaction to approximately $574,500.

Recently, several additional large investors have made modifications to their existing holdings of CIXX shares. Grayhawk Investment Strategies Inc. made a new investment in CI Financial during the second quarter of the fiscal year. The value of this investment was approximately $25,000 at the time of the investment. During the first three months of 2018, Power Corp. of Canada initiated a new position in shares of CI Financial with a total value of approximately $29,000. Great West Life Assurance Company increased the proportion of CI Financial stock owned by 7.8 percent over the third quarter. Great West Life Assurance Co. now has 28,549 shares after purchasing an additional 2,062 in the most recent quarter. The value of the company’s shares has increased to $273,000 due to this most recent transaction. During the third quarter of the current fiscal year, Addenda Capital Inc. increased the percentage of CI Financial shares it owned by 6.1%. Compared to the number of shares the company held at the end of the previous reporting period, Addenda Capital Inc. now owns a total of 41,080 shares, which have a combined value of $512,000; this represents an increase of 2,360 shares in the company’s shareholdings. And finally, during the second quarter, the Public Sector Pension Investment Board increased the amount of CI Financial shares it owned by 1%, bringing its total ownership percentage to 100%. After purchasing 4,515 shares during the preceding quarter, the Public Sector Pension Investment Board now has 435,073 shares of the company’s stock. These shares have a combined value of $4,611,000, making the Public Sector Pension Investment Board’s total investment in the company worth that amount. The combined holdings of the company’s stock by institutional investors and hedge funds come to 34.16% of the total.

The price of the NYSE: CIXX index dropped by $0.08 on Friday, bringing it to $11.42 per share. The company’s stock was traded in an amount equal to 52,261 shares, with an average volume of 126,788. The stock’s moving average for the past 50 days is $10.47, and the moving average for the past 200 days is $10.62. The lowest price that CI Financial Corp. has been over the past 52 weeks is $8.50, while the highest price that the company has been at over the past 52 weeks is $20.63. A debt-to-equity ratio comes in at 2.19, a current ratio comes in at 0.60, and a quick ratio comes in at 0.60. The price-to-earnings ratio of the company’s stock is 6.60; the price-to-growth ratio of the stock is 0.56; and the stock’s beta value is 1.20. The total value of the company’s shares on the market is equivalent to $2.13 billion.

CI Financial (NYSE: CIXX) divulged the outcomes of its most recent quarterly earnings report on Thursday, November 10, making it available to the public. During the period in question, the business posted a profit of $0.56 per share (EPS). A return on equity of 37.42% and a net margin of 17.55% were successful goals that CI Financial could accomplish. The company generated total revenue of 393.76 million dollars during the period in question. Earnings of $2.27 per share are anticipated for CI Financial Corporation in 2018, according to projections made public by sell-side research analysts.

A public statement regarding the payment of a quarterly dividend will be made by the company on April 14, according to a recent announcement just released to the public. Shareholders whose records were up-to-date as of March 31 will receive a dividend payment of $0.1335 per share. This payment will be sent to those shareholders. This dividend will be payable to shareholders whose accounts are in good standing as of this coming Thursday, March 30. This equates to a dividend payment of $0.53 and a yield of 4.68% when calculated annually. CI Financial’s payout ratio is currently sitting at 31.21% as of right now.

The company shares have been the subject of several equity analysts’ commentary. The price objective that Scotiabank has set for CI Financial shares has been lowered from C$18.00 to C$17.00, as announced in a research note published on October 31. BMO Capital Markets announced in a research note published on Thursday, October 27, that they would be lowering their price objective on shares of CI Financial from C$21.00 to C$19.00. This change came as a result of the company’s recent performance. TD Securities increased their price objective on shares of CI Financial from C$15.00 (the previous level) to C$16.00 (the new level) in a research report published on Friday, November 11. This marked the third and final time the company increased its price target.

Asset management is the primary focus of CI Financial Corp., a holding company traded on public markets and operates in this industry. The company manages separate portfolios of equities, fixed income, and alternative investments centered on individual clients’ requirements through its subsidiaries. These separate portfolios of equities, fixed income, and alternative investments are all managed with the requirements of individual clients in mind. In addition, it manages mutual funds, hedge funds, and pools of funds for its clients through its subsidiaries. This service is offered to both individual and institutional investors.

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