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CI Financial Corp. (CIXX)
NYSE - NYSE Delayed Price. Currency in USD
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From this morning' G&M
KBW analyst Rob Lee raised his CI Financial Corp. (CIX-T +0.31%increase
) target by $1 to $36 with an “outperform” rating. The average is $34.33.
Here are the analyst's recommendations and forecast returns for 2022.
Buy, Hold, Sell + (consensus target).
Financials (only included the stocks I own)
HCG 6 Buys, 2 Holds ($54.14)
GSY 7 Buys, 1 Hold ($233.13)
CIX 7 Buys, 3 Holds ($33.80)
ECN 9/9 Buys ($6.66)
FFH 7 Buys, 2 Holds ($745.85)
EQB 6 Buys, 2 Holds ($92.56)
IFC 12/12 Buys ($183.67)
BAM.A 10 Buys, 3 Holds ($84.82)
SLF 9 Buys, 4 Holds, 1 Sell ($74.78)
Time to add to position?
BNN didn't post the individual link. GLTA
CI Financial Corp(CIX-T)
04/01/2022 at 07:00pm
Has always been a good long-term hold. Model price of $57, 110% upside. Nice dividend of 2.65%. Risk/reward is quite good. More acquisitive in the last 6 months, good long-term strategy.
INVESTMENT COMPANIES / FUNDS
Brian Acker, CA
Bill Holland is at it again... such a great endorsement...
On Dec. 30, chairman of the board Bill Holland invested more than $668,000 in shares of CI. He purchased 25,000 shares at a price per share of $26.7245 for an account in which he has indirect ownership (WH Corp.), lifting this particular account’s holdings to 1,075,000 shares.
Yahoo Finance Insights
CI Financial is down 4.92% to 18.76
Total Assets Grow by $152.5 b. in 2021 to Record $384.1 b.
All financial amounts in Canadian dollars unless stated otherwise.
January 21, 2022 03:54 PM Eastern Standard Time
TORONTO--(BUSINESS WIRE)--CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today reported preliminary assets under management as at December 31, 2021 of $152.1 billion and wealth management assets of $232.0 billion, for total assets of $384.1 billion.
Globe & Mail
07:58 AM EST, 01/04/2022 (MT Newswires) -- CI Financial Corp. (CIX.TO), a provider of global asset management and wealth management advisory services, said Tuesday that it has completed the acquisitions of four registered investment advisor firms, adding about US$24 billion in assets to its CI Private Wealth business in the US.
CI Financial said it acquired Columbia Pacific Wealth Management, Gofen & Glossberg LLC, RegentAtlantic Capital LLC and R.H. Bluestein & Co.
The company also completed the acquisition of minority stakes in alternative investment firms Columbia Pacific Advisors LLC and GLAS Funds LLC.
The acquisitions helped CI Financial boost the value of its US-based assets to US$115 billion.
Yahoo Finance Insights
CIX.TO is down 5.02% to 23.64
I haven't read anything about how much they're paying for all of these companies that they've been aquiring. Be interested to see how this year's volatility and drop in US indexes how that effects the AUM and profits from the fee's on this. Buying firms in 2021 while at market highs will this pay off.
Insider of the Year...
William Holland is INK Research’s insider of 2021. Our selection was based solely on which officer or director of a Canadian public company had the most public-market insider buying on a beneficial ownership basis since Jan. 1, 2021. Mr. Holland racked up $20.1-million worth of public-market share buying this year, with just under $15.4-million of that spent on shares of CI Financial Corp., where he is board chairman. During the year he bought 750,000 CI shares at an average price of $20.46.
2021 Top Performers
10 Top Performing Canadian Stocks in 2021 Of all the companies in our coverage universe, these made the most of a weird/good year.
Andrew Willis30 December, 2021 | 4:49AMFacebookTwitterLinkedInFont-Size
Paw Patrol characters
If the stock market’s recovery from COVID wasn’t swift enough, 2021 surely more than made up for lost ground. But bullishness aside, it’s felt like a market in transition, with opportunities and threats, from great economic growth potential to debt levels and inflation – which makes for a stock picker's market.
Some investors see a rotation to value stocks, some see deflationary periods ahead benefitting select growth stocks, and others have an eye on the general health of broad markets for the buy signal. With all these signals (or noise, whichever way you want to look at it) can you imagine what the top 10 stocks in Canada, in terms of performance, look like for this year? If you’d guessed defensives and value, led by a trendy growth stock and paired with some classic core yielders, you’d be right on the money.
Here’s the list:
Price / Fair Value
Lithium Americas Corp (LAC)
CI Financial Corp (CIX)
Shaw Communications Inc Class B (SJR.B)
Loblaw Companies Ltd (L)
Spin Master Corp Shs Subord Voting (TOY)
Thomson Reuters Corp (TRI)
Power Corporation of Canada (POW)
Bank of Montreal (BMO)
George Weston Ltd (WN)
Gildan Activewear Inc (GIL)
Morningstar Direct Data as of Dec 6, 2021
Lithium Americas Corp
The top performing stock is a play on lithium. As the batteries in electric vehicles rely on lithium as a core component, Lithium Americas Corp (LAC) is looking to become a leading low-cost supplier. With three production sites planned, senior equity analyst Seth Goldstein says the company could become a top-five producer.
Goldstein reminds investors of the very high uncertainty rating for the company. They should have a strong stomach – at least until production comes online. “The stock has recently been very volatile, often moving at least 5% versus the prior day's close on little company-specific news. For investors who can tolerate the volatility, we view the company as a good opportunity to invest in growing lithium demand from increased electric vehicle adoption.
CI Financial Corp
The top-performer in our universe of financial stocks this year was a non-bank affiliated asset manager. Blazing its own independent path in Canada, CI Financial (CIX) has been busy this year acquiring wealth management firms both in the U.S. and Canada. “Given the timing and contribution of its wealth management deals, which are proving to be more fruitful than expected,” says sector strategist Greggory Warren, “we have increased our five-year CAGR for revenue growth to 10.4% (from 9.7% previously).”
Investors should keep in mind the growth for Canada’s second-largest independent asset manager will come up against fee pressures, particularly around higher-fee actively managed funds. “While many of the independent asset managers have already cut fees during the past five years, primarily in response to the banks using price as a tool for taking share from the independents (which is something that we expect to continue),” says Warren.
to acquire Columbia Pacific Wealth Management
Transaction boosts CI’s U.S. assets to US$115 billion, making U.S. wealth management CI’s largest business line
CI Financial Corp. (“CI”) (TSX: CIX; NYSE: CIXX) and Columbia Pacific of Seattle today announced a strategic relationship in which CI will invest in the continued growth of Columbia Pacific’s world-class wealth management and alternative asset management firms.
Under the agreements, CI will acquire Columbia Pacific Wealth Management (“CPWM”), which has US$6.4 billion in total assets under management and provides a full range of wealth management solutions to high-net-worth and ultra-high-net-worth clients on the West Coast and across the United States. Additionally, CI will acquire a minority stake in Columbia Pacific Advisors, LLC (“CPA”), an alternative asset management firm that manages US$3.5 billion in total assets under management across a broad selection of institutional-caliber real estate private equity, direct lending, opportunistic and hedged strategies.
“Columbia Pacific has built remarkable wealth management and alternative asset management businesses centered on delivering the best possible outcomes for their clients and investors,” said Kurt MacAlpine, Chief Executive Officer of CI Financial. “Their success has been driven by highly skilled and committed leadership teams with extensive experience in financial services and other businesses. The cultural alignment and shared vision for growth make this an exciting opportunity for CI as we continue to attract the best firms in the business to CI Private Wealth.”
“CI’s investment is evidence of the success of our deliberate and long-term strategy to build enduring wealth management and alternative asset management businesses,” said Alex Washburn, Co-Founder and Managing Partner of CPWM and CPA. “This partnership will also broaden the resources and support available to Columbia Pacific as we continue to enhance the universe of investment opportunities for the families we advise. CI has earned a reputation for investing in best-in-class teams, and we are thrilled to partner with them as they make a permanent investment in our companies. On behalf of our executive teams, I would like to thank our colleagues at CPWM and CPA for their drive, commitment and continuing focus on delivering outstanding service and performance to our clients and investors. We are just getting started!”
08:06 AM EST, 01/11/2022 (MT Newswires) -- CI Financial Corp (CIX.TO, CIXX) -- which lost more than 4% in regular US trade yesterday, and then regained more than 4% in after hours -- on Tuesday agreed to acquire Northwood Family Office Ltd to strengthen its wealth management business.
The acquisition will increase CI Financial's Canadian wealth management assets to about C$81 billion and total assets globally to C$377 billion, the company said. It didn't disclose financial terms of the deal.
Toronto-based Northwood is a multi-family office. It manages $2.2 billion of investment assets and $9 billion of family net worth on behalf of clients.
"With the addition of one of Canada's leading family offices, CI can now seamlessly serve the entire spectrum of wealth management, from beginning investors to the nation's wealthiest families," said Kurt MacAlpine, CI Financial's CEO.
CI Financial expects the transaction to close in the quarter ending June 30, subject to regulatory approval and other customary closing conditions.
Yahoo Finance Insights
CI Financial is down 5.01% to 21.25
Yahoo Finance Insights
CI Financial is up 4.98% to 22.15
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)
Why the downtrend? This stock has been on such. A roll this year
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