CI Financial (TSE:CIX) Shares Cross Above 200 Day Moving Average - Should You Sell?

CI Financial Corp. (TSE:CIX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$28.70 and traded as high as C$31.19. CI Financial shares last traded at C$31.14, with a volume of 1,108,901 shares changing hands.

Analysts Set New Price Targets

Separately, Raymond James cut shares of CI Financial from a "moderate buy" rating to a "strong sell" rating in a research report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of C$27.94.

CI Financial Stock Performance

The company has a market capitalization of C$4.49 billion, a price-to-earnings ratio of -64.92, a P/E/G ratio of 0.04 and a beta of 1.67. The stock has a 50 day simple moving average of C$31.20 and a 200 day simple moving average of C$28.70. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 506.88.

CI Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.57%. CI Financial's payout ratio is currently -166.77%.

Insiders Place Their Bets

In other CI Financial news, Director Brigette Elizabeth Chang sold 1,500 shares of the company's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of C$31.00, for a total value of C$46,500.00. Insiders have sold 401,600 shares of company stock valued at $12,529,620 over the last three months. Company insiders own 15.83% of the company's stock.

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.

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