CI Financial (NYSE:CIXXF) Sees Large Volume Increase

CI Financial Corp. (NYSE:CIXXFGet Free Report) shares saw strong trading volume on Tuesday . 16,500 shares changed hands during mid-day trading, a decline of 8% from the previous session’s volume of 17,872 shares.The stock last traded at $10.66 and had previously closed at $10.31.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CIXXF. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 13th. Raymond James upgraded shares of CI Financial from a “hold” rating to a “moderate buy” rating in a research note on Sunday, May 12th.

Check Out Our Latest Stock Analysis on CI Financial

CI Financial Price Performance

The company’s 50-day simple moving average is $12.03 and its 200 day simple moving average is $11.58. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 4.50 and a beta of 1.43. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.23.

CI Financial (NYSE:CIXXFGet Free Report) last released its quarterly earnings results on Friday, February 23rd. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. The company had revenue of $525.68 million for the quarter, compared to analyst estimates of $486.16 million. CI Financial had a negative net margin of 6.49% and a positive return on equity of 42.97%. Equities research analysts forecast that CI Financial Corp. will post 2.75 EPS for the current year.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.1454 per share. This represents a dividend yield of 4.55%. The ex-dividend date was Wednesday, March 27th. CI Financial’s dividend payout ratio is currently -67.05%.

CI Financial Company Profile

(Get Free Report)

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.

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