CI Financial Corp (CIX.TO) Buy, Sell or Hold

CI Financial Corp (CIX.TO)

31.99

-0.00 (0.00%)

as of Aug 14, 2025, 8:00:00 pm Market Open.

167 watching

COMMENT

Bank of Nova Scotia (BNS-T) would like to take this in at some point in time, but they are not in any big rush and are not going to overpay to get this. Have expanded their wealth management business quite significantly over the last number of years.

DON'T BUY

Biggest shareholder would be Bank of Nova Scotia (BNS-T) which controls a good chunk of the company. There is a lot of speculation that they may consolidate their interest at some point at which time you could see the stock move up 15%-20%. This company is an asset manager and in this environment, asset managers do very well. Thinks this one is fairly valued. There are others that he likes such as Gluskin Sheff (GS-T).

DON'T BUY

(Market Call Minute.) Based on its current valuation, he would not be a buyer. Extremely well run. Committed to paying and growing dividends.

WEAK BUY

These kinds of mutual fund companies get hurt in this environment. At the end of the day the ETF market has been very, very strong. Behind this one is BNS and it is supporting the stock price. It was tough in '08 but even this year it was up 10% with a dividend above 4%.

TOP PICK

CI has bought a lot of the acquisition targets and have been successful in integrating them. They could one day become a take-over candidate. They are one of the few candidates that have growth through assets sales. Attractive management and assets. Yield doesn’t hurt. Stock is not cheap.

TOP PICK

Mutual fund industry is a very difficult business so consolidations will get going as things get tougher. This company can either be consolidated or consolidate other firms.

HOLD

Of all the companies in this sector, they have done a great job. However, they have the same problem in that assets are not growing and they are getting pressure on fees. If you own, stick with it but he wouldn't be buying any of these types of companies.

TOP PICK

Excellent cost control. You have to have a positive view on the markets. They are moving into hedge fund business. Morning Star recently said that of any fund family they have the most funds in top quartile. Up’ed their dividend. Bank of NS has a lot of cash and owns a lot of CI Financial. The two companies are getting along much better.

HOLD

Because of high fees, should he get out of this and into ETFs? One of the leading mutual funds and has done very well in consolidating the landscape, getting scale, cutting fees and paying out very good dividends, which would make it a good holding. However, he doesn't see a lot of growth. Very capable management.

DON'T BUY

Doesn't think the stock is going anywhere. Bank of Nova Scotia (BNS-T) owns 1/3 so he doesn't expect it will get taken out. 4.5% dividend.

SELL

There is not a lot to get excited about. Sees no compelling reason to own this. Will go sideways for a year or two.

BUY

Thinks at some time BNS will make an offer to acquire them. They may be looking to sell. Thinks they are holding out for a better offer. Could go for $30. They raise dividends every year and he sees it going higher. This is really the only great one remaining.

PAST TOP PICK

(Top Pick March 18/09. Down 58.79%.)

WAIT

Markets have done well in last year. Mutual fund companies got hurt when people were fleeing and they benefited when they people came back. This one did not. Likes the long-term fundamentals. Wait for a sell-off. It’s in BNS’s best interest to buy CI in the long run.

BUY

Likes it. Peculiarly bought by Scotia. Well worth holding. Could be taken out by Scotia. Doesn’t watch it, he is so happy with it.

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CI Financial Corp (CIX.TO)