CI Financial (NYSE:CIXXF) Shares Gap Up to $10.57

CI Financial Corp. (NYSE:CIXXF)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.57, but opened at $10.93. CI Financial shares last traded at $10.93, with a volume of 729 shares.

Wall Street Analyst Weigh In

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

CI Financial Stock Performance

The company has a debt-to-equity ratio of 3.86, a current ratio of 0.33 and a quick ratio of 0.33. The stock’s 50 day simple moving average is $10.94 and its two-hundred day simple moving average is $11.62. The stock has a market cap of $1.65 billion, a P/E ratio of 4.36 and a beta of 1.35.

CI Financial (NYSE:CIXXF) last posted its quarterly earnings data on Friday, May 10th. The company reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. CI Financial had a negative net margin of 6.49% and a positive return on equity of 46.20%. The company had revenue of $478.96 million for the quarter, compared to the consensus estimate of $510.79 million. As a group, research analysts forecast that CI Financial Corp. will post 2.75 EPS for the current year.

CI Financial Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be issued a dividend of $0.1481 per share. This represents a yield of 5.76%. This is an increase from CI Financial’s previous dividend of $0.15. The ex-dividend date of this dividend is Friday, June 28th. CI Financial’s payout ratio is presently -65.91%.

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.