Great-West Lifeco (TSE:GWO) Price Target Raised to C$95.00

Great-West Lifeco (TSE:GWO) had its target price boosted by Canadian Imperial Bank of Commerce from C$81.00 to C$95.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

GWO has been the subject of a number of other reports. Scotia lifted their price target on shares of Great-West Lifeco from C$78.00 to C$83.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 8th. Royal Bank Of Canada increased their price objective on shares of Great-West Lifeco from C$64.00 to C$77.00 in a research report on Friday, May 8th. National Bank Financial raised their price objective on shares of Great-West Lifeco from C$65.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Jefferies Financial Group boosted their target price on Great-West Lifeco from C$70.00 to C$83.00 in a research report on Friday, May 1st. Finally, BMO Capital Markets upped their target price on Great-West Lifeco from C$70.00 to C$76.00 in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$80.73.

Great-West Lifeco Stock Down 0.3%

Shares of GWO opened at C$92.82 on Wednesday. The company has a quick ratio of 22.18, a current ratio of 6.57 and a debt-to-equity ratio of 29.59. The business has a fifty day moving average of C$84.76 and a 200 day moving average of C$72.53. The company has a market cap of C$83.36 billion, a PE ratio of 19.96, a P/E/G ratio of 2.26 and a beta of 0.67. Great-West Lifeco has a 52-week low of C$51.60 and a 52-week high of C$93.69.

Great-West Lifeco (TSE:GWO) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 earnings per share for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The business had revenue of C$8.37 billion for the quarter. On average, sell-side analysts expect that Great-West Lifeco will post 4.4525194 EPS for the current year.

Great-West Lifeco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 2nd. Great-West Lifeco’s payout ratio is currently 53.76%.

Insider Transactions at Great-West Lifeco

In other news, insider Jean-Francois Poulin sold 20,000 shares of the company’s stock in a transaction dated Friday, June 19th. The shares were sold at an average price of C$89.55, for a total value of C$1,791,000.00. Following the transaction, the insider directly owned 160 shares in the company, valued at approximately C$14,328. This represents a 99.21% decrease in their ownership of the stock. Also, Director Mei Dong sold 39,400 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of C$76.33, for a total transaction of C$3,007,402.00. Following the completion of the transaction, the director directly owned 2,721 shares in the company, valued at C$207,693.93. This represents a 93.54% decrease in their position. Over the last ninety days, insiders have sold 119,200 shares of company stock worth $9,821,888. Insiders own 70.70% of the company’s stock.

About Great-West Lifeco

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. In 2020, Great-West announced it would acquire Personal Capital and MassMutual’s recordkeeping business. In Europe, Great-West offers life insurance, annuities, and reinsurance primarily in the U.K., Ireland, and Germany.