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

CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading on Monday . The stock had previously closed at $22.17, but opened at $20.93. CI Financial shares last traded at $22.05, with a volume of 5,262 shares changing hands.

Wall Street Analysts Forecast Growth

CIXXF has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Securities downgraded shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Wednesday, November 27th.

CI Financial Trading Down 0.6 %

The business’s 50-day moving average is $16.30 and its two-hundred day moving average is $13.21. The stock has a market capitalization of $3.18 billion, a PE ratio of -66.79 and a beta of 1.31. 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 company also recently declared a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.1471 per share. This represents a yield of 4.37%. The ex-dividend date of this dividend was Friday, September 27th. CI Financial’s dividend payout ratio (DPR) is -178.78%.

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.