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

CI Financial Corp. (NYSE:CIXXF) gapped up prior to trading 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 traded.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CIXXF shares. Raymond James upgraded CI Financial from a “hold” rating to a “moderate buy” rating in a research report on Sunday, May 12th. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 13th.

CI Financial Price Performance

The firm has a 50-day simple moving average of $10.94 and a 200-day simple moving average of $11.62. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.86. The firm 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 released its quarterly earnings data on Friday, May 10th. The company reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. CI Financial had a positive return on equity of 46.20% and a negative net margin of 6.49%. The business had revenue of $478.96 million during the quarter, compared to analyst estimates of $510.79 million. As a group, analysts forecast that CI Financial Corp. will post 2.75 EPS for the current year.

CI Financial Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be paid a $0.1481 dividend. This represents a yield of 5.76%. This is a positive change from CI Financial’s previous dividend of $0.15. The ex-dividend date of this dividend is Friday, June 28th. CI Financial’s dividend payout ratio (DPR) is -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.