Guardian Capital Group (TSE:GCG.A) Stock Price Crosses Below 200-Day Moving Average - Here's Why

Key Points

• The stock price of Guardian Capital Group (TSE:GCG.A) has fallen below its 200-day moving average of C$41.90, closing at C$40.40 with a trading volume of 3,020 shares.
• Scotiabank has reduced its target price for Guardian Capital Group from C$54.00 to C$53.00 while maintaining an "outperform" rating.
• The company recently announced an increase in its quarterly dividend from $0.37 to $0.39 per share, resulting in an annualized yield of 3.9%.

Guardian Capital Group Limited (TSE:GCG.A - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$41.90 and traded as low as C$40.40. Guardian Capital Group shares last traded at C$40.40, with a volume of 3,020 shares changing hands.

Analyst Upgrades and Downgrades

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 for the company in a research report on Thursday, May 22nd.

Guardian Capital Group Trading Down 0.5%

The company has a market cap of C$894.36 million, a P/E ratio of 16.56, a PEG ratio of -22.04 and a beta of 1.11. The company has a current ratio of 1.03, a quick ratio of 0.64 and a debt-to-equity ratio of 14.28. The business has a 50 day moving average price of C$41.67 and a 200-day moving average price of C$41.85.

Guardian Capital Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Friday, July 18th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, July 11th. This is a positive change from Guardian Capital Group's previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.9%. Guardian Capital Group's payout ratio is 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.