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

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down prior to trading on Thursday . The stock had previously closed at $22.03, but opened at $20.96. CI Financial shares last traded at $20.96, with a volume of 222 shares changing hands.

Analyst Ratings Changes

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

CI Financial Trading Down 0.4 %

The business has a fifty day moving average price of $21.62 and a 200 day moving average price of $17.64. 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 $3.18 billion, a price-to-earnings ratio of -66.76 and a beta of 1.42.

CI Financial Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 15th. Stockholders of record on Wednesday, January 1st were given a dividend of $0.1457 per share. The ex-dividend date was Tuesday, December 31st. This represents a dividend yield of 2.71%. CI Financial’s payout ratio is -169.69%.

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.