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

Keefe, Bruyette & Woods lowered shares of CI Financial (NYSE:CIXXF) from a moderate buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

CI Financial Price Performance

Shares of NYSE CIXXF opened at $22.11 on Monday. CI Financial has a fifty-two week low of $10.01 and a fifty-two week high of $22.70. The stock has a market cap of $3.19 billion, a P/E ratio of -67.00 and a beta of 1.31. The firm’s 50-day simple moving average is $15.95 and its 200 day simple moving average is $13.03. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.53.

CI Financial Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued 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 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.