|Bid||17.82 x 0|
|Ask||17.86 x 0|
|Day's Range||17.76 - 18.15|
|52 Week Range||10.53 - 22.96|
|Beta (5Y Monthly)||1.29|
|PE Ratio (TTM)||8.09|
|Earnings Date||May 04, 2021 - May 10, 2021|
|Forward Dividend & Yield||0.72 (4.04%)|
|Ex-Dividend Date||Mar 30, 2021|
|1y Target Est||22.38|
CI Financial Corp. ("CI") (TSX: CIX; NYSE: CIXX), a diversified global asset and wealth management company, and New York Private Bank & Trust, parent company of Emigrant Bank ("Emigrant"), today announced an agreement under which specialized services for ultra-high-net-worth investors provided by Emigrant’s subsidiaries will be offered to CI’s U.S. wealth management businesses.
(Bloomberg) -- Billionaire investor Mike Novogratz’s Galaxy Digital Holdings Ltd. said its asset management unit has grown to about $1.2 billion after launching new products, including a Bitcoin mutual fund in partnership with Canada’s CI Financial Corp.The company, based in New York but listed in Toronto, said in a statement Wednesday it expects to report income of $325 million for the fourth quarter after the value of Bitcoin and other holdings soared. Galaxy said it disclosed the preliminary results “given the material change in the operating environment of the cryptocurrency and digital sector” since it reported its third quarter.Galaxy Digital is a financial firm that does asset management, trading, investment banking and other activities, with a focus on digital assets, cryptocurrencies and blockchain. Novogratz is trying to place it in the center of an explosion in investor interest in cryptocurrencies and retail funds that hold them.Galaxy’s trading desk is one of several providing Bitcoins for the Purpose Bitcoin ETF, the first-ever approved in North America, which began trading on the Toronto Stock Exchange last week. Galaxy Digital will also act as a sub-adviser on a new Bitcoin ETF that CI Financial has also filed to launch.“Even as late as June and July of last year, people were not positive this was a real space,” Novogratz said by telephone. “Now the question is, how much exposure should I have?”Galaxy’s asset management division includes venture funds and crypto funds, including those traded on exchanges. Assets, which were $1.18 billion as of Feb. 19, have grown 45% since the end of December after more than doubling in the fourth quarter, the company said. Novogratz said he plans to add about 50 people to the 126-person company, which has offices in New York, Chicago, Tokyo, Hong Kong, London and Los Angeles. Galaxy Digital has a market value of C$5.5 billion ($4.4 billion), up from C$382 million a year ago.Some mainstream financial institutions, such as Morgan Stanley’s Counterpoint Global investment management unit, are considering making bets on Bitcoin or are making it easier for their clients to do so. That’s another signal cryptocurrencies have staying power, Novogratz said.“It’s not a classic FOMO because this is going to be an asset class for the next 50 years,” he said.(Updates with additional information on Galaxy Digital starting in third paragraph and on financial industry activity near end of story)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Segall Bryant & Hamill (SBH), an investment management firm headquartered in Chicago, announced today the promotion of Zachary Rosenstock, CFA, to Assistant Portfolio Manager on the firm's Small Cap ROIC team. Specifically, Mr. Rosenstock will become the Assistant Portfolio Manager of the team's Small Cap Core and SMID Cap investment strategies. Mr. Rosenstock has been a Senior Equity Analyst on the team since 2011 and has 16 years of investment experience.