CI Financial (NYSE:CIXXF) Sees Large Volume Increase – Still a Buy?

CI Financial Corp. (NYSE:CIXXF) saw unusually-high trading volume on Tuesday . Approximately 14,129 shares were traded during mid-day 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th. Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th.

CI Financial Stock Performance

The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 4.53. The stock’s 50 day moving average price is $20.09 and its two-hundred day moving average price is $15.36. The firm has a market capitalization of $3.11 billion, a PE ratio of -65.45 and a beta of 1.42.

CI Financial Cuts Dividend

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

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.