Guardian Capital Group (TSE:GCG.A) Stock Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Guardian Capital Group's stock price has fallen below its 200-day moving average for the first time, trading at C$40.94.
• Scotiabank has reduced its price target for the stock from C$54.00 to C$53.00, maintaining an "outperform" rating.
• The company has increased its quarterly dividend to $0.39 per share, up from $0.37, representing an annual yield of 3.8%.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$41.46 and traded as low as C$40.94. Guardian Capital Group shares last traded at C$40.94, with a volume of 3,581 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank lowered their price target 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 report on Thursday, May 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of C$52.00.

Guardian Capital Group Trading Down 3.5%

The firm's 50 day moving average is C$41.50 and its 200 day moving average is C$41.46. The company has a market cap of C$909.69 million, a PE ratio of 16.85, a PEG ratio of -22.04 and a beta of 1.11. The company has a debt-to-equity ratio of 14.28, a current ratio of 1.03 and a quick ratio of 0.64.

Guardian Capital Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Friday, July 18th were paid a dividend of $0.39 per share. 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%. The ex-dividend date of this dividend was Friday, July 11th. Guardian Capital Group's dividend payout ratio is presently 60.91%.

About Guardian Capital Group

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.

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