CI Financial (TSE:CIX) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

CI Financial Corp. (TSE:CIX) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$26.15 and traded as high as C$31.21. CI Financial shares last traded at C$31.20, with a volume of 534,619 shares changing hands.

Analysts Set New Price Targets

CIX has been the subject of several analyst reports. CIBC increased their price objective on CI Financial from C$23.00 to C$32.00 in a report on Tuesday, November 26th. TD Securities lowered CI Financial from a “buy” rating to a “sell” rating and increased their price objective for the company from C$28.00 to C$32.00 in a report on Tuesday, November 26th. Raymond James lowered CI Financial from a “moderate buy” rating to a “strong sell” rating in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lowered CI Financial from an “outperform” rating to a “market perform” rating and raised their target price for the stock from C$28.00 to C$31.50 in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of C$27.94.

CI Financial Price Performance

The company has a market cap of C$4.50 billion, a PE ratio of -65.04, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a debt-to-equity ratio of 506.88, a quick ratio of 0.17 and a current ratio of 0.32. The stock has a 50 day moving average of C$31.21 and a 200-day moving average of C$26.15.

CI Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. CI Financial’s payout ratio is currently -166.77%.

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.