CI Financial (NYSE:CIXXF) Downgraded to Strong Sell Rating by Raymond James

Raymond James lowered shares of CI Financial (NYSE:CIXXF) from a moderate buy rating to a strong sell rating in a research report report published on Thursday morning,Zacks.com reports.

CIXXF has been the subject of a number of other reports. Keefe, Bruyette & Woods downgraded CI Financial from a “moderate buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Securities cut CI Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday, November 27th.

CI Financial Price Performance

Shares of NYSE:CIXXF opened at $21.73 on Thursday. CI Financial has a one year low of $10.16 and a one year high of $22.70. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of -65.85 and a beta of 1.42. The company has a 50-day simple moving average of $21.21 and a 200-day simple moving average of $16.24. The company has a debt-to-equity ratio of 4.53, a quick ratio of 0.32 and a current ratio of 0.32.

CI Financial Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, January 1st were given a dividend of $0.1457 per share. The ex-dividend date was Tuesday, December 31st. This represents a yield of 2.71%. CI Financial’s dividend payout ratio (DPR) is currently -169.69%.

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.