CI Financial (NYSE:CIXXF) Sees Strong Trading Volume – What’s Next?

Shares of CI Financial Corp. (NYSE:CIXXF) saw unusually-strong trading volume on Monday . Approximately 25,790 shares traded hands during trading, an increase of 125% from the previous session’s volume of 11,450 shares.The stock last traded at $22.03 and had previously closed at $22.12.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CIXXF. TD Securities downgraded shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th. 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. Finally, Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd.

CI Financial Price Performance

The company’s 50-day simple moving average is $21.63 and its 200 day simple moving average is $17.87. The company has a market capitalization of $3.15 billion, a P/E ratio of -66.24 and a beta of 1.42. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were issued a dividend of $0.1457 per share. This represents a dividend yield of 2.71%. The ex-dividend date was Tuesday, December 31st. CI Financial’s dividend payout ratio is -166.67%.

CI Financial Company Profile

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.