CI Financial (NYSE:CIXXF) Sees Large Volume Increase – What’s Next?

CI Financial Corp. (NYSE:CIXXF) shares saw unusually-strong trading volume on Tuesday . Approximately 14,129 shares changed hands during trading, an increase of 150% from the previous session’s volume of 5,662 shares.The stock last traded at $21.61 and had previously closed at $21.56.

Wall Street Analysts Forecast Growth

CIXXF has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered shares of CI Financial from a “moderate buy” rating to a “hold” rating in a report on Monday, November 25th. 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 Stock Down 0.0 %

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 stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of -65.45 and a beta of 1.42. The firm’s fifty day moving average is $20.09 and its 200-day moving average is $15.36.

CI Financial Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st will be issued a $0.1457 dividend. This represents a yield of 2.71%. The ex-dividend date is Tuesday, December 31st. CI Financial’s dividend payout ratio is currently -178.79%.

About CI Financial

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.