CI Financial (NYSE:CIXXF) Trading 0.3% Higher - Time to Buy?

CI Financial Corp. (NYSE:CIXXF - Get Free Report)'s stock price shot up 0.3% during trading on Monday . The company traded as high as $21.49 and last traded at $21.49. 1,313 shares traded hands during trading, a decline of 95% from the average session volume of 24,551 shares. The stock had previously closed at $21.42.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CIXXF shares. TD Securities cut shares of CI Financial from a "strong-buy" rating to a "strong sell" rating in a report on Wednesday, November 27th. Keefe, Bruyette & Woods lowered shares of CI Financial from a "moderate buy" rating to a "hold" rating in a research note on Monday, November 25th.

CI Financial Stock Up 0.3 %

The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a 50 day simple moving average of $19.17 and a two-hundred day simple moving average of $14.76. The stock has a market cap of $3.10 billion, a P/E ratio of -65.12 and a beta of 1.43.

CI Financial Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st will be paid a dividend of $0.1457 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a dividend yield of 2.71%. CI Financial's dividend payout ratio is presently -178.79%.

About CI Financial

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.