CI Financial (NYSE:CIXXF) Downgraded to "Strong Sell" Rating by TD Securities

TD Securities lowered shares of CI Financial (NYSE:CIXXF - Free Report) from a strong-buy rating to a strong sell rating in a report published on Wednesday morning,Zacks.com reports.

Separately, Keefe, Bruyette & Woods lowered shares of CI Financial from a "moderate buy" rating to a "hold" rating in a research note on Monday.

CI Financial Stock Up 0.3 %

CIXXF stock traded up $0.07 during trading on Wednesday, reaching $22.11. 27,781 shares of the company traded hands, compared to its average volume of 24,778. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -67.00 and a beta of 1.31. The company has a debt-to-equity ratio of 3.53, a quick ratio of 0.34 and a current ratio of 0.34. The business has a 50 day simple moving average of $15.77 and a 200 day simple moving average of $12.97. CI Financial has a 12 month low of $10.01 and a 12 month high of $22.70.

CI Financial Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.1471 per share. This represents a dividend yield of 4.37%. The ex-dividend date was Friday, September 27th. CI Financial's payout ratio is -178.78%.

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.