CI Financial Corp. Declares Dividend of $0.15 (NYSE:CIXXF)

CI Financial Corp. (NYSE:CIXXF) declared a dividend on Tuesday, December 24th,investing.com reports. Shareholders of record on Wednesday, January 1st will be paid a dividend of 0.1457 per share on Wednesday, January 15th. This represents a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, December 31st.

CI Financial has decreased its dividend by an average of 8.0% per year over the last three years. CI Financial has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CI Financial to earn $3.02 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 18.5%.

CI Financial Stock Performance

Shares of CIXXF stock opened at $21.48 on Tuesday. The firm’s 50 day moving average is $18.73 and its 200 day moving average is $14.46. The stock has a market capitalization of $3.10 billion, a P/E ratio of -65.08 and a beta of 1.43. CI Financial has a 12 month low of $10.16 and a 12 month high of $22.70. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53.

Analysts Set New Price Targets

A number of research analysts have recently commented on CIXXF shares. Keefe, Bruyette & Woods lowered shares of CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th. TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th.

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.