CI Financial (NYSE:CIXXF) Sees Unusually-High Trading Volume – Here’s What Happened

CI Financial Corp. (NYSE:CIXXF) saw an uptick in trading volume on Thursday . 16,800 shares changed hands during mid-day trading, an increase of 57% from the previous session’s volume of 10,672 shares.The stock last traded at $21.79 and had previously closed at $21.81.

Analyst Upgrades and Downgrades

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

CI Financial Stock Performance

The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32. The firm’s 50 day simple moving average is $21.66 and its 200-day simple moving average is $18.24. The company has a market cap of $3.15 billion, a price-to-earnings ratio of -66.15 and a beta of 1.42.

CI Financial Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were given a dividend of $0.1457 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a dividend yield of 2.71%. CI Financial’s payout ratio is -26.44%.

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.