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

Keefe, Bruyette & Woods cut 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 Price Performance

CIXXF stock opened at $22.11 on Monday. The business has a 50 day moving average price of $15.77 and a 200 day moving average price of $12.97. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.53. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -67.00 and a beta of 1.31. CI Financial has a fifty-two week low of $10.01 and a fifty-two week high of $22.70.

CI Financial Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.1471 dividend. 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 (DPR) 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.