CI Financial (TSE:CIX) Stock Price Crosses Above 200-Day Moving Average - What's Next?

CI Financial Corp. (TSE:CIX - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$31.20 and traded as high as C$31.57. CI Financial shares last traded at C$31.56, with a volume of 819,934 shares.

CI Financial Stock Up 0.1%

The stock has a fifty day simple moving average of C$31.33 and a two-hundred day simple moving average of C$31.20. The firm has a market cap of C$4.55 billion, a PE ratio of -65.83, a price-to-earnings-growth ratio of 0.04 and a beta of 1.67. The company has a current ratio of 0.32, a quick ratio of 0.17 and a debt-to-equity ratio of 506.88.

CI Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.53%. The ex-dividend date was Monday, March 31st. CI Financial's payout ratio is -166.77%.

Insider Activity

In other news, Senior Officer Edward Douglas Kelterborn sold 16,000 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$31.46, for a total value of C$503,360.00. Also, Director Brigette Elizabeth Chang sold 39,900 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of C$31.46, for a total transaction of C$1,255,433.55. Insiders sold 577,500 shares of company stock worth $18,062,313 in the last three months. Corporate insiders own 15.83% of the company's stock.

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.