CI Financial (NYSE:CIXXF) Shares Gap Down – Here’s Why

Shares of CI Financial Corp. (NYSE:CIXXF) gapped down before the market opened on Thursday . The stock had previously closed at $22.03, but opened at $20.96. CI Financial shares last traded at $20.96, with a volume of 222 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CIXXF. TD Securities cut shares of CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th. Raymond James lowered 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 Stock Performance

The stock has a 50 day moving average of $21.61 and a two-hundred day moving average of $17.53. The stock has a market capitalization of $3.19 billion, a PE ratio of -66.94 and a beta of 1.42. The company has a debt-to-equity ratio of 4.53, a current ratio of 0.32 and a quick ratio of 0.32.

CI Financial Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, January 15th. Shareholders of record on Wednesday, January 1st were issued a $0.1457 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a yield of 2.71%. CI Financial’s dividend payout ratio (DPR) is presently -169.69%.

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.