Share Price & News
How has CI Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: CIX's share price has been volatile over the past 3 months.
7 Day Return
CA Capital Markets
1 Year Return
CA Capital Markets
Return vs Industry: CIX underperformed the Canadian Capital Markets industry which returned 3.2% over the past year.
Return vs Market: CIX underperformed the Canadian Market which returned -12.4% over the past year.
Price Volatility Vs. Market
How volatile is CI Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 year ago | Simply Wall StIs Buying CI Financial Corp (TSE:CIX) For Its Upcoming CA$0.12 Dividend A Good Choice?
1 year ago | Simply Wall StWhat You Must Know About CI Financial Corp's (TSE:CIX) Major Investors
2 years ago | Simply Wall StShould CI Financial Corp (TSE:CIX) Be Part Of Your Portfolio?
Is CI Financial undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CIX (CA$17.1) is trading below our estimate of fair value (CA$39.22)
Significantly Below Fair Value: CIX is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CIX is good value based on its PE Ratio (7.5x) compared to the Capital Markets industry average (26.1x).
PE vs Market: CIX is good value based on its PE Ratio (7.5x) compared to the Canadian market (13.1x).
Price to Earnings Growth Ratio
PEG Ratio: CIX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: CIX is overvalued based on its PB Ratio (2.5x) compared to the CA Capital Markets industry average (0.9x).
How is CI Financial forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CIX's earnings are forecast to decline over the next 3 years (-6.7% per year).
Earnings vs Market: CIX's earnings are forecast to decline over the next 3 years (-6.7% per year).
High Growth Earnings: CIX's earnings are forecast to decline over the next 3 years.
Revenue vs Market: CIX's revenue is expected to decline over the next 3 years (-5.7% per year).
High Growth Revenue: CIX's revenue is forecast to decline over the next 3 years (-5.7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if CIX's Return on Equity is forecast to be high in 3 years time
How has CI Financial performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CIX has high quality earnings.
Growing Profit Margin: CIX's current net profit margins (24.8%) are lower than last year (27.3%).
Past Earnings Growth Analysis
Earnings Trend: CIX's earnings have grown by 1% per year over the past 5 years.
Accelerating Growth: CIX's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: CIX had negative earnings growth (-13.3%) over the past year, making it difficult to compare to the Capital Markets industry average (-5.4%).
Return on Equity
High ROE: Whilst CIX's Return on Equity (34.87%) is high, this metric is skewed due to their high level of debt.
How is CI Financial's financial position?
Financial Position Analysis
Short Term Liabilities: CIX's short term assets (CA$996.6M) do not cover its short term liabilities (CA$1.3B).
Long Term Liabilities: CIX's short term assets (CA$996.6M) do not cover its long term liabilities (CA$1.8B).
Debt to Equity History and Analysis
Debt Level: CIX's debt to equity ratio (117.6%) is considered high.
Reducing Debt: CIX's debt to equity ratio has increased from 16.3% to 117.6% over the past 5 years.
Debt Coverage: CIX's debt is well covered by operating cash flow (31.7%).
Interest Coverage: CIX's interest payments on its debt are well covered by EBIT (13.9x coverage).
What is CI Financial current dividend yield, its reliability and sustainability?
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: CIX's dividend (4.21%) is higher than the bottom 25% of dividend payers in the Canadian market (1.91%).
High Dividend: CIX's dividend (4.21%) is low compared to the top 25% of dividend payers in the Canadian market (6.02%).
Stability and Growth of Payments
Stable Dividend: CIX's dividend payments have been volatile in the past 10 years.
Growing Dividend: CIX's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.7%), CIX's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Kurt MacAlpine (38yo)
Mr. Kurt MacAlpine serves as Chief Executive Officer and Director of CI Financial Corp. since September 1, 2019. Mr. MacAlpine served as an Executive Vice President and Global Head of Distribution at Wisdo ...
CEO Compensation Analysis
Compensation vs Market: Kurt's total compensation ($USD3.84M) is about average for companies of similar size in the Canadian market ($USD3.31M).
Compensation vs Earnings: Insufficient data to compare Kurt's compensation with company performance.
|CEO & Director||0.83yr||CA$5.21m||0.0034% CA$126.4k|
|President & COO||1.08yrs||CA$1.23m||0.021% CA$784.5k|
|Executive VP & CFO||11.58yrs||CA$750.00k||0.034% CA$1.3m|
|Executive VP & Head of Distribution for CI Investments||no data||CA$700.00k||0.074% CA$2.8m|
|Chief Legal Officer||1.42yrs||no data||0.0014% CA$51.5k|
|Vice President of Communications||no data||no data||no data|
|Executive VP & Chief Talent Officer||no data||no data||0.0093% CA$345.0k|
|President of Assante Wealth Management (Canada) Limited||2.5yrs||no data||no data|
|President of CI Private Counsel||2.5yrs||no data||no data|
|Chief Investment Officer of Signature Global Advisors||no data||no data||no data|
Experienced Management: CIX's management team is not considered experienced ( 2 years average tenure), which suggests a new team.
|CEO & Director||0.83yr||CA$5.21m||0.0034% CA$126.4k|
|Independent Director||6.75yrs||CA$170.00k||0.0039% CA$145.3k|
|Independent Lead Director||2.08yrs||CA$195.00k||0.019% CA$690.8k|
|Chairman of the Board||9.83yrs||CA$750.00k||3.74% CA$138.6m|
|Independent Director||2.08yrs||CA$140.00k||0.18% CA$6.6m|
|Independent Director||1.33yrs||CA$105.00k||0.012% CA$427.7k|
|Independent Director||2.08yrs||CA$140.00k||0.22% CA$8.1m|
Experienced Board: CIX's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: CIX insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
CI Financial Corp's company bio, employee growth, exchange listings and data sources
- Name: CI Financial Corp
- Ticker: CIX
- Exchange: TSX
- Founded: 1965
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: CA$3.706b
- Shares outstanding: 216.72m
- Website: https://www.cifinancial.com
Number of Employees
- CI Financial Corp
- 2 Queen Street East
- Twentieth Floor
- M5C 3G7
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|CIX||TSX (The Toronto Stock Exchange)||Yes||Common Shares||CA||CAD||Jun 1994|
|CF7||DB (Deutsche Boerse AG)||Yes||Common Shares||DE||EUR||Jun 1994|
|CIFA.F||OTCPK (Pink Sheets LLC)||Yes||Common Shares||US||USD||Jun 1994|
CI Financial Corp. is a publicly owned asset management holding company. Through its subsidiaries, the firm manages separate client focused equity, fixed income, and alternative investments portfolios. It also manages mutual funds, hedge funds, and fund of funds for its clients through its subsidiaries. The firm was founded in 1965 and is based in Toronto, Canada with additional offices in Vancouver, Canada; Calgary, Canada; and Montreal, Canada.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/07/04 23:51|
|End of Day Share Price||2020/07/03 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.