CI Financial Corp. (NYSE:CIXXF) Announces $0.14 Dividend

CI Financial Corp. (NYSE:CIXXF) announced a dividend on Saturday, March 22nd, investing.com reports. Stockholders of record on Tuesday, April 1st will be paid a dividend of 0.1432 per share on Tuesday, April 15th. This represents a dividend yield of 2.63%. The ex-dividend date is Monday, March 31st.

CI Financial has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CI Financial to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.5%.

CI Financial Stock Down 0.3 %

Shares of NYSE CIXXF opened at $21.76 on Monday. CI Financial has a 12-month low of $10.16 and a 12-month high of $22.70. The firm’s 50-day simple moving average is $21.75 and its 200 day simple moving average is $19.06. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 4.53. The company has a market cap of $3.14 billion, a price-to-earnings ratio of -65.94 and a beta of 1.41.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CIXXF shares. Keefe, Bruyette & Woods lowered shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th. Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Finally, TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th.

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.