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CI Financial Corp. (CIX.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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28.46-0.03 (-0.11%)
As of 09:33AM EST. Market open.
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  • R
    Ron
    Ink Research
    Most active public-market buying insiders (all markets in Canada)
    From November 29th to December 3rd as filed and reported by mid-day December 5th (000's):

    William Holland bought $1,389 CI Financial (Sunny; CIX) and $775 Real Matters (Mixed; REAL)
    Steven Miller bought $1,859 Bausch Health Companies (Mostly Sunny; BHC)
    Jason Wild bought $1,439 TerrAscend (Mixed; TER)
    Mark Pathy bought $959 Stingray Group (Sunny; RAY)
    Joseph Matheson bought $500 Optive (Sunny; OPT)
  • R
    Ron
    RBC statement ahead of Q3 results...
    "We forecast EPS of $0.84, which above consensus of $0.79 and compares to $0.61 Y/Y. With net sales and AUM pre-released, our focus will be on:
    (1) Q4/21-to-date net sales performance and outlook;
    (2) details on the two U.S. RIA acquisitions that closed during Q3/21;
    (3) operational/integration updates on the U.S. wealth platform; and
    (4) other efficiency initiatives at the core asset management business."
  • R
    Ron
    Record Total Assets of $331.8 Billion for October 2021
    All financial amounts in Canadian dollars unless stated otherwise.

    November 10, 2021 05:27 PM Eastern Standard Time
    TORONTO--(BUSINESS WIRE)--CI Financial Corp. (“CI”) (TSX:CIX, NYSE:CIXX) today reported preliminary assets under management as at October 31, 2021 of $150.2 billion and wealth management assets of $181.6 billion, for total assets of $331.8 billion.

    On October 1, 2021, CI completed the previously announced acquisition of Budros, Ruhlin & Roe, Inc., a registered investment advisor based in Columbus, Ohio, with $4.4 billion in assets.


    https://www.businesswire.com/news/home/20211110006417/en/
  • R
    Ron
    This morning's G&M
    RBC’s Geoffrey Kwan raised his CI Financial Corp. (CIX-T) target to $34 from $32 with an “outperform” rating. Others making changes including: Canaccord Genuity’s Scott Chan to $35 from $32.50 with an “outperform” rating; Desjardins’ Gary Ho to $34 from $31 with a “buy” rating and CIBC’s Nik Priebe to $37 from $35 with an “outperformer” rating. The average is $33.89.
    “CI reported a generally positive quarter. Adjusted diluted EPS was in line, but earnings quality has remained strong over the [last 12-month] period (measured by free cash flow conversion). Net flows remained positive in October, driven by continued momentum in retail. The company signalled that deal activity could slow in 2022, which is consistent with our expectations. We continue to like CI,” said Mr. Priebe.
  • Y
    Yahoo Finance Insights
    CIX.TO reached a 52 Week high at 28.87
  • Y
    Yahoo Finance Insights
    CI Financial reached an all time high at 23.41
  • Y
    Yahoo Finance Insights
    CIX.TO reached a 52 Week high at 30.12
  • Y
    Yahoo Finance Insights
    CI Financial reached an all time high at 24.17
  • Y
    Yahoo Finance Insights
    CI Financial is down 5.26% to 21.80
  • H
    Henry
    "CIX is in the fortunate position of having a business that currently generates $600+ million of free cash flow per year. That cash flow is available to fund the dividends on the stock, share buybacks and acquisitions. They have also increased debt a bit over the past 18 months to fund the combination of those three as they have seen a strong pipeline for acquisitions while at the same time view their stock as undervalued. While there could be a small stock component in some of these deals, they generally don’t want to be issuing stock given their view that the shares remain considerably undervalued compared to the platform they have built."
  • Y
    Yahoo Finance Insights
    CIX.TO is down 4.91% to 27.87
  • R
    Ron
    This morning's G&M
    CI Financial Corp. (
    CIX-T +1.77%increa

    On Nov. 12, chairman of the board Bill Holland bought 25,000 shares at a cost per share of $29.5132 for an account in which he has indirect ownership (WH Corp.), after which this particular account held 975,000 shares. The cost of this purchase exceeded $737,000.
    CI Financial pays its shareholders a quarterly dividend of 18 cents per share.
  • Y
    Yahoo Finance Insights
    CIX.TO reached a 52 Week high at 29.41
  • Y
    Yahoo Finance Insights
    CI Financial reached an all time high at 23.75
  • T
    The Joker
    Stock is doing well so far but be mindful of market risk and AUM. The stock runs a high Beta.
  • R
    Ron
    Total Assets of $320.4 Billion for September 2021
    CI’s Asset Management
    business
    delivers $800 million
    in net sales for its best quarter
    in over six years

    All financial amounts in Canadian dollars unless stated otherwise.

    October 19, 2021 07:00 AM Eastern Daylight Time
    TORONTO--(BUSINESS WIRE)--CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today reported preliminary assets under management as at September 30, 2021 of $146.6 billion and wealth management assets of $173.8 billion, for total assets of $320.4 billion.


    On September 30, 2021, CI completed the previously announced acquisition of Portola Partners Group LLC, a Menlo Park, California-based registered investment advisor (“RIA”) focused on serving ultra-high-net-worth families. The transaction added $6.7 billion to CI’s wealth management assets. On October 1, 2021, CI completed the acquisition of Budros, Ruhlin & Roe, Inc. (“BRR”), an RIA based in Columbus, Ohio, with approximately $4.4 billion in assets. CI’s reported assets as at September 30, 2021 do not include BRR.

    CI also reported preliminary net sales results for its asset management businesses for the third quarter. CI had overall net sales of $0.8 billion, representing the second consecutive quarter of positive net flows and CI’s best net sales since the second quarter of 2015. CI’s net sales are now positive for the year-to-date 2021.

    “CI’s net flows continue to strengthen, reaching their highest level in over six years,” said Kurt MacAlpine, CI Chief Executive Officer. “This positive trend is led by our Canadian retail operations, where the modernization of our business has had a tremendous impact.

    “The transformational changes we have made include moving from a multi-boutique asset management structure to a fully integrated global platform, completely revamping our sales and marketing model, incorporating data analytics into sales and other operations, and adopting a new, more robust approach to product development that has resulted in the introduction of a series of more relevant investment products. We believe these changes are directly responsible for the turnaround in the performance and sales of our Canadian Asset Management business.”


    https://www.businesswire.com/news/home/20211019005378/en/
    CI Financial reports total assets of $320.4 billion at September 30, 2021 and its best quarterly net sales in over six years.
    CI Financial reports total assets of $320.4 billion at September 30, 2021 and its best quarterly net sales in over six years.
    www.businesswire.com
  • D
    Daryl
    love this stock!
  • T
    The Joker
    I love this stock and it's one of my major holdings. As a Wealth Management company, its revenue is subject to AUM, which in turn is highly sensitive to the market. 2019, 2020 and 2021 YTD have been very strong years. Can we expect the market to generate above normal returns for 4th year in a row? I'm thinking about reduce my exposure to CI and park it in cash or some defensive stock and see what happens in 2022 with the intention to increase my stake in CI over the long term. Your thoughts?
  • D
    Daryl
    why the drop?
  • R
    Ron
    Makes Strategic Investment in GLASfunds
    November 10, 2021 05:27 PM Eastern Standard Time
    MIAMI & TORONTO & CLEVELAND--(BUSINESS WIRE)--CI Financial Corp. (“CI”) (TSX: CIX; NYSE: CIXX) announced today it has made a strategic investment in GLAS Funds, LLC (“GLASfunds™”), a turnkey alternative investment platform and alternative asset management firm based in Cleveland.

    https://www.businesswire.com/news/home/20211110006418/en/