CI Financial (TSE:CIX) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

CI Financial Corp. (TSE:CIX) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$26.74 and traded as high as C$31.32. CI Financial shares last traded at C$31.28, with a volume of 384,534 shares.

Analyst Upgrades and Downgrades

Separately, Raymond James cut shares of CI Financial from a “moderate buy” rating to a “strong sell” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, CI Financial currently has a consensus rating of “Hold” and a consensus price target of C$27.94.

CI Financial Stock Performance

The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 506.88. The stock has a market capitalization of C$4.50 billion, a P/E ratio of -65.06, a P/E/G ratio of 0.04 and a beta of 1.67. The company’s 50-day moving average is C$31.24 and its two-hundred day moving average is C$26.93.

CI Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Monday, March 31st. CI Financial’s dividend payout ratio (DPR) is -166.77%.

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.