CI Financial (NYSE:CIXXF) Sees Strong Trading Volume – Time to Buy?

Shares of CI Financial Corp. (NYSE:CIXXF) saw unusually-strong trading volume on Monday . Approximately 25,790 shares changed hands 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 Upgrades and Downgrades

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

CI Financial Price Performance

The stock has a market cap of $3.15 billion, a P/E ratio of -66.24 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. The company’s fifty day simple moving average is $21.63 and its 200-day simple moving average is $17.87.

CI Financial Cuts Dividend

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