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

CI Financial Corp. (TSE:CIX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-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 trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CIX. TD Securities cut CI Financial from a “buy” rating to a “sell” rating and raised their target price for the company from C$28.00 to C$32.00 in a research report on Tuesday, November 26th. CIBC raised their target price on CI Financial from C$23.00 to C$32.00 in a research report on Tuesday, November 26th. Raymond James cut CI Financial from a “moderate buy” rating to a “strong sell” rating in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods cut CI Financial from an “outperform” rating to a “market perform” rating and raised their target price for the company from C$28.00 to C$31.50 in a research report on Tuesday, November 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of C$27.94.

CI Financial Trading Up 0.2 %

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

CI Financial Cuts Dividend

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