CI Financial (NYSE:CIXXF) Downgraded to Strong Sell Rating by TD Securities

TD Securities lowered shares of CI Financial (NYSE:CIXXF) from a strong-buy rating to a strong sell rating in a report published on Wednesday morning,Zacks.com reports.

Separately, Keefe, Bruyette & Woods downgraded shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th.

CI Financial Price Performance

Shares of NYSE:CIXXF opened at $22.17 on Wednesday. The company has a market cap of $3.20 billion, a P/E ratio of -67.18 and a beta of 1.31. The business has a fifty day simple moving average of $16.30 and a 200-day simple moving average of $13.17. CI Financial has a 52 week low of $10.16 and a 52 week high of $22.70. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.53.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.1471 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 4.37%. CI Financial’s dividend payout ratio is presently -178.79%.

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.