CI Financial (NYSE:CIXXF) Downgraded to “Hold” Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of CI Financial (NYSE:CIXXF) from a moderate buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

CI Financial Trading Up 0.3 %

CIXXF stock opened at $22.11 on Monday. The firm has a fifty day moving average price of $15.77 and a 200 day moving average price of $12.97. CI Financial has a fifty-two week low of $10.01 and a fifty-two week high of $22.70. The firm has a market cap of $3.19 billion, a PE 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.

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 given a dividend of $0.1471 per share. This represents a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, September 27th. CI Financial’s dividend payout ratio is -178.78%.

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.