Guardian Capital is one of the 10 largest independent asset management companies in Canada, with $56.2 billion in assets under management (AUM) as of Sept. 30, 2023.
Income Investor
Guardian Capital is one of the half dozen largest independent asset managers in Canada, with $165 billion in asset under management (AUM) as of Sept. 30. It closed its $70 million acquisition of Sterling Capital Management from Truist at the beginning of July, which added $105 billion in AUM, more than doubling the size of Guardian’s assets. It also purchased Galibier Capital Management of Toronto with $1.1 billion in AUM in September. With equity and bond markets enjoying another strong year, Guardian is extremely undervalued at 10 times forecast earnings. With a reasonable 3.5% dividend yield, the successful conclusion of the Sterling Capital and Galibier deals, and the share price below where it was a year ago, Guardian Capital is a Buy. - Gavin Graham
Sorry!
Only current subscribers of The Income Investor may view the details of this recommendation.
Interactive Performance Chart
GCG.A was first recommended here on March 3, 2024