CI Financial (NYSE:CIXXF) Sees Large Volume Increase – What’s Next?

CI Financial Corp. (NYSE:CIXXF) saw strong trading volume on Monday . 25,790 shares were traded during mid-day 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 Ratings Changes

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

CI Financial Stock Down 0.4 %

The stock has a fifty day simple moving average of $21.62 and a two-hundred day simple moving average of $17.73. The firm has a market cap of $3.18 billion, a PE ratio of -66.76 and a beta of 1.42. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53.

CI Financial Cuts Dividend

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