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

Shares of CI Financial Corp. (NYSE:CIXXF) saw an uptick in trading volume on Tuesday . 14,129 shares were traded during trading, an increase of 150% from the previous session’s volume of 5,662 shares.The stock last traded at $21.61 and had previously closed at $21.56.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods lowered shares of CI Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, November 25th.

CI Financial Price Performance

The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53. The firm’s 50-day moving average price is $19.88 and its 200-day moving average price is $15.23. The stock has a market capitalization of $3.11 billion, a PE ratio of -65.44 and a beta of 1.42.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st will be paid a $0.1457 dividend. This represents a dividend yield of 2.71%. The ex-dividend date of this dividend is Tuesday, December 31st. CI Financial’s payout ratio is -178.79%.

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.