Guardian Capital Group (TSE:GCG.A) Shares Cross Below 200 Day Moving Average - Here's What Happened

Key Points

• Guardian Capital Group's stock fell below its 200-day moving average of C$41.56, trading at C$41.02 during recent sessions.
• Scotiabank has reduced its price target for the stock from C$54.00 to C$53.00, while still maintaining an "outperform" rating.
• The company recently announced a quarterly dividend increase to $0.39, resulting in an annualized yield of 3.8%.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report)'s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$41.56 and traded as low as C$40.76. Guardian Capital Group shares last traded at C$41.02, with a volume of 4,701 shares.

Analyst Ratings Changes

Separately, Scotiabank dropped their price objective on shares of Guardian Capital Group from C$54.00 to C$53.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$52.00.

Guardian Capital Group Stock Up 0.1%

The stock has a fifty day moving average of C$41.46 and a 200 day moving average of C$41.47. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.03 and a quick ratio of 0.64. The firm has a market capitalization of C$923.91 million, a P/E ratio of 17.11, a price-to-earnings-growth ratio of -22.04 and a beta of 1.11.

Guardian Capital Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 18th were given a dividend of $0.39 per share. The ex-dividend date was Friday, July 11th. This is an increase from Guardian Capital Group's previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a yield of 3.8%. Guardian Capital Group's dividend payout ratio (DPR) is currently 60.91%.

Guardian Capital Group Company Profile

Guardian Capital Group Ltd is a diversified financial services company. It operates in two main business areas, Asset Management and Financial Advisory. Guardian offers institutional and private wealth investment management services; financial services to international investors; services to financial advisors in its national mutual fund dealer, securities dealer, and insurance distribution network; and maintains and manages a proprietary investment portfolio.