CI Financial (NYSE:CIXXF) Sees Unusually-High Trading Volume – Here’s Why

CI Financial Corp. (NYSE:CIXXF) shares saw strong trading volume on Thursday . 16,800 shares traded hands during mid-day trading, an increase of 57% from the previous session’s volume of 10,672 shares.The stock last traded at $21.79 and had previously closed at $21.81.

Wall Street Analysts Forecast Growth

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

CI Financial Price Performance

The company has a debt-to-equity ratio of 4.53, a current ratio of 0.32 and a quick ratio of 0.32. The company has a market cap of $3.15 billion, a P/E ratio of -66.15 and a beta of 1.42. The firm’s 50-day moving average is $21.66 and its two-hundred day moving average is $18.24.

CI Financial Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were paid a $0.1457 dividend. This represents a yield of 2.71%. The ex-dividend date of this dividend was Tuesday, December 31st. CI Financial’s dividend payout ratio (DPR) is presently -26.44%.

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.