CI Financial (TSE:CIX) Share Price Passes Above 200 Day Moving Average - Here's What Happened

CI Financial Corp. (TSE:CIX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$30.41 and traded as high as C$31.50. CI Financial shares last traded at C$31.40, with a volume of 812,392 shares changing hands.

CI Financial Trading Up 0.3%

The company has a market capitalization of C$4.54 billion, a P/E ratio of -65.62, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The business has a fifty day moving average price of C$31.26 and a 200 day moving average price of C$30.62. The company has a quick ratio of 0.17, a current ratio of 0.32 and a debt-to-equity ratio of 506.88.

CI Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Monday, March 31st. CI Financial's dividend payout ratio is currently -166.77%.

Insider Activity at CI Financial

In other CI Financial news, Director Brigette Elizabeth Chang sold 50,000 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of C$31.41, for a total transaction of C$1,570,465.00. Over the last quarter, insiders have sold 451,600 shares of company stock valued at $14,100,085. 15.83% of the stock is owned by insiders.

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.