CIBC Issues Pessimistic Forecast for Great-West Lifeco (TSE:GWO) Stock Price

Great-West Lifeco (TSE:GWO) had its target price dropped by analysts at CIBC from C$60.00 to C$57.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. CIBC’s target price points to a potential upside of 9.91% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on GWO. Jefferies Financial Group cut their price objective on Great-West Lifeco from C$58.00 to C$57.00 in a report on Monday, April 21st. Royal Bank of Canada set a C$53.00 price target on shares of Great-West Lifeco and gave the company a “sector perform” rating in a research report on Tuesday, April 15th. Barclays lowered their price objective on shares of Great-West Lifeco from C$48.00 to C$47.00 in a report on Friday, April 11th. Cibc World Mkts raised shares of Great-West Lifeco from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 6th. Finally, TD Securities upped their price target on shares of Great-West Lifeco from C$53.00 to C$62.00 and gave the company a “buy” rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Great-West Lifeco presently has an average rating of “Hold” and a consensus price target of C$56.00.

Great-West Lifeco Stock Down 1.0 %

Shares of TSE GWO opened at C$51.86 on Thursday. The stock’s 50-day simple moving average is C$53.20 and its two-hundred day simple moving average is C$49.95. The firm has a market capitalization of C$48.28 billion, a P/E ratio of 11.87, a P/E/G ratio of 2.26 and a beta of 0.84. Great-West Lifeco has a twelve month low of C$38.44 and a twelve month high of C$57.61.

Insider Activity

In other news, Director Charles Donald Harvey Henaire sold 26,100 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of C$53.00, for a total value of C$1,383,300.00. Also, insider L.P. Great-West Lifeco U.S. Holdings sold 75,457 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of C$53.44, for a total value of C$4,032,671.09. Over the last three months, insiders have sold 144,257 shares of company stock valued at $7,640,646. Company insiders own 70.70% of the company’s stock.

Great-West Lifeco Company Profile

Great-West Lifeco is one of the three big Canadian life insurance firms. With just under half of the firm’s profit and revenue in Canada, Great-West also operates in the U.S. and Europe. In Canada, Great-West provides both individual and group insurance. In the United States, Great-West operates Putnam Investments and defined-contribution recordkeeping firm Empower Retirement.