CI Financial (NYSE:CIXXF) Sees Large Volume Increase

CI Financial Corp. (NYSE:CIXXF) shares saw unusually-strong trading volume on Tuesday . Approximately 50,201 shares changed hands during mid-day trading, an increase of 212% from the previous session’s volume of 16,074 shares.The stock last traded at $10.84 and had previously closed at $10.97.

Analysts Set New Price Targets

Several analysts have issued reports on CIXXF shares. Raymond James raised shares of CI Financial from a “hold” rating to a “moderate buy” rating in a report on Sunday, May 12th. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 13th.

CI Financial Stock Performance

The company has a market cap of $1.70 billion, a price-to-earnings ratio of -12.73 and a beta of 1.35. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.86. The stock’s 50 day moving average price is $10.81 and its 200 day moving average price is $11.61.

CI Financial (NYSE:CIXXF) last issued its quarterly earnings results on Friday, May 10th. The company reported $0.64 EPS for the quarter, hitting the consensus estimate of $0.64. The firm had revenue of $478.96 million during the quarter, compared to analyst estimates of $510.79 million. CI Financial had a negative net margin of 6.49% and a positive return on equity of 46.20%. On average, analysts expect that CI Financial Corp. will post 2.75 EPS for the current fiscal year.

CI Financial Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.1481 dividend. This is a positive change from CI Financial’s previous dividend of $0.15. This represents a dividend yield of 5.76%. The ex-dividend date is Friday, June 28th. CI Financial’s dividend payout ratio (DPR) is -65.91%.

About CI Financial

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.