CI Financial (NYSE:CIXXF) Cut to Strong Sell at TD Securities

TD Securities downgraded shares of CI Financial (NYSE:CIXXF) from a strong-buy rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Separately, Keefe, Bruyette & Woods cut CI Financial from a “moderate buy” rating to a “hold” rating in a research report on Monday, November 25th.

CI Financial Stock Up 0.3 %

CI Financial stock opened at $22.17 on Wednesday. The stock has a 50 day moving average of $16.30 and a two-hundred day moving average of $13.17. CI Financial has a twelve month low of $10.16 and a twelve month high of $22.70. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of -67.18 and a beta of 1.31. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.53.

CI Financial Cuts Dividend

The firm also recently declared 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 was Friday, September 27th. CI Financial’s dividend payout ratio (DPR) is presently -178.79%.

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.