TD Issues Positive Forecast for Great-West Lifeco (TSE:GWO) Stock Price

Great-West Lifeco (TSE:GWO) had its price target increased by TD from C$80.00 to C$98.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

GWO has been the subject of a number of other reports. Canadian Imperial Bank of Commerce raised their target price on shares of Great-West Lifeco from C$81.00 to C$95.00 in a report on Wednesday, July 15th. Jefferies Financial Group upped their price target on shares of Great-West Lifeco from C$84.00 to C$107.00 and gave the company a “buy” rating in a research note on Tuesday. Desjardins increased their price objective on shares of Great-West Lifeco from C$71.00 to C$80.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Barclays lifted their price objective on shares of Great-West Lifeco from C$70.00 to C$73.00 in a research note on Thursday, May 7th. Finally, BMO Capital Markets boosted their target price on shares of Great-West Lifeco from C$70.00 to C$76.00 in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$84.55.

Great-West Lifeco Stock Performance

TSE GWO opened at C$92.34 on Tuesday. The stock has a market capitalization of C$82.92 billion, a PE ratio of 19.86, a P/E/G ratio of 2.26 and a beta of 0.67. The business has a 50 day simple moving average of C$85.40 and a two-hundred day simple moving average of C$72.91. The company has a debt-to-equity ratio of 29.59, a current ratio of 6.57 and a quick ratio of 22.18. Great-West Lifeco has a 1-year low of C$51.60 and a 1-year high of C$93.69.

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

Great-West Lifeco Dividend Announcement

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

Insider Transactions at Great-West Lifeco

In other news, Director Mei Dong sold 39,400 shares of Great-West Lifeco stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of C$76.33, for a total value of C$3,007,402.00. Following the completion of the transaction, the director owned 2,721 shares in the company, valued at approximately C$207,693.93. The trade was a 93.54% decrease in their position. Also, insider Jean-Francois Poulin sold 20,000 shares of the business’s stock in a transaction that occurred on 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 position. In the last 90 days, insiders sold 119,200 shares of company stock worth $9,821,888. 70.70% of the stock is currently owned by company insiders.

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. 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.