The Lead Independent Director of CI Financial (NYSE: CIFAF) is Buying Shares

Today, the Lead Independent Director of CI Financial (CIFAFResearch Report), Thomas Pinaud Muir, bought shares of CIFAF for $478.5K.

Following this transaction Thomas Pinaud Muir’s holding in the company was increased by 31% to a total of $1.6 million.

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Based on CI Financial’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $566 million and quarterly net profit of $105 million. In comparison, last year the company earned revenue of $536 million and had a net profit of $148 million. The company has a one-year high of $19.22 and a one-year low of $7.50. Currently, CI Financial has an average volume of .

Four different firms, including RBC Capital and Canaccord Genuity, currently also have a Buy rating on the stock.

The insider sentiment on CI Financial has been positive according to 31 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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CI Financial Corp. engages in the business of management, marketing, distribution, and administration of investment funds. It operates through the Asset Management and Asset Administration segments. The Asset Management segment includes fees earned on the management of mutual, segregated, pooled and closed-end funds, structured products and discretionary accounts. The Asset Administration segment involves commissions and fees earned on the sale of mutual funds and other financial products and ongoing service to clients. It offers services through brokers, independent financial planners, and insurance advisors. The company was founded in 1965 and is headquartered in Toronto, Canada.