CI Financial (NYSE:CIXXF) Sees Unusually-High Trading Volume - Should You Buy?

CI Financial Corp. (NYSE:CIXXF - Get Free Report) shares saw an uptick in trading volume on Thursday . 16,800 shares were traded during mid-day trading, an increase of 57% from the previous session's volume of 10,672 shares.The stock last traded at $21.79 and had previously closed at $21.81.

Analysts Set New Price Targets

Several research firms recently commented on CIXXF. Raymond James downgraded CI Financial from a "moderate buy" rating to a "strong sell" rating in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods downgraded CI Financial from a "moderate buy" rating to a "hold" rating in a research note on Monday, November 25th. Finally, TD Securities downgraded CI Financial from a "strong-buy" rating to a "strong sell" rating in a research note on Wednesday, November 27th.

CI Financial Trading Down 0.9 %

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 company has a fifty day simple moving average of $21.71 and a 200-day simple moving average of $18.49. The company has a market capitalization of $3.11 billion, a PE ratio of -65.33 and a beta of 1.41.

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. This represents a yield of 2.71%. The ex-dividend date of this dividend was Tuesday, December 31st. CI Financial's payout ratio is currently -26.44%.

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.