CI Financial (TSE:CIX) Sets New 1-Year High - Still a Buy?

Key Points

• CI Financial's share price reached a new 52-week high of C$31.98 during trading, closing slightly lower at C$31.95.
• Insider transactions showed significant activity, with directors selling a combined total of 175,900 shares worth approximately $5.5 million in the last quarter.
• The company has a market capitalization of C$4.61 billion and a notably high debt-to-equity ratio of 506.88.

CI Financial Corp. (TSE:CIX - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as C$31.98 and last traded at C$31.95, with a volume of 96482 shares. The stock had previously closed at C$31.94.

CI Financial Stock Performance

The stock has a market cap of C$4.61 billion, a P/E ratio of -66.65, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 506.88. The business has a 50 day moving average price of C$31.69 and a two-hundred day moving average price of C$31.42.

Insider Buying and Selling at CI Financial

In other news, Senior Officer Edward Douglas Kelterborn sold 16,000 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of C$31.46, for a total transaction of C$503,360.00. Also, Director Brigette Elizabeth Chang sold 50,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of C$31.48, for a total transaction of C$1,574,020.00. Insiders sold 175,900 shares of company stock valued at $5,532,693 in the last 90 days. Insiders own 15.83% of the company's stock.

CI Financial Company Profile

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 129.2 billion in fund assets under management, and another CAD 221.5 billion in assets under advisement, at the end of April 2022, making it one of the largest nonbank affiliated asset managers in Canada.