CI Financial (NYSE:CIXXF) Shares Gap Down – Here’s Why

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading on Wednesday . The stock had previously closed at $21.61, but opened at $20.60. CI Financial shares last traded at $21.50, with a volume of 13,226 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CIXXF shares. 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. TD Securities downgraded CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th. Finally, Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Stock Down 0.1 %

The company has a fifty day moving average price of $21.72 and a 200-day moving average price of $18.55. 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 has a market capitalization of $3.12 billion, a PE ratio of -65.45 and a beta of 1.41.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, January 15th. Shareholders 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 yield of 2.71%. CI Financial’s dividend payout ratio (DPR) is presently -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.