Royal Bank Of Canada Boosts Great-West Lifeco (TSE:GWO) Price Target to C$64.00

Great-West Lifeco (TSE:GWO) had its price target increased by investment analysts at Royal Bank Of Canada from C$60.00 to C$64.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 3.81% from the stock’s current price.

Other analysts have also issued reports about the company. UBS Group raised Great-West Lifeco to a “strong-buy” rating in a report on Thursday, October 16th. BMO Capital Markets lifted their price objective on shares of Great-West Lifeco from C$60.00 to C$66.00 in a report on Monday, November 10th. National Bank Financial boosted their target price on shares of Great-West Lifeco from C$58.00 to C$59.00 in a research note on Thursday, November 6th. Scotiabank raised their price target on shares of Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, TD Securities lifted their price target on shares of Great-West Lifeco from C$70.00 to C$73.00 in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Great-West Lifeco currently has an average rating of “Moderate Buy” and an average target price of C$67.22.

Great-West Lifeco Price Performance

GWO traded up C$0.61 during trading on Friday, hitting C$61.65. The company had a trading volume of 693,439 shares, compared to its average volume of 1,466,180. Great-West Lifeco has a 1-year low of C$49.54 and a 1-year high of C$68.56. The company has a market cap of C$55.93 billion, a PE ratio of 14.30, a P/E/G ratio of 2.26 and a beta of 0.53. The business has a 50-day moving average of C$65.45 and a 200-day moving average of C$60.08.

Great-West Lifeco (TSE:GWO) last released its earnings results on Wednesday, November 5th. The company reported C$1.33 earnings per share for the quarter. Great-West Lifeco had a net margin of 16.06% and a return on equity of 14.81%. The company had revenue of C$8.21 billion during the quarter. Research analysts forecast that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Buying and Selling at Great-West Lifeco

In related news, Director Edmund Francis Murphy sold 94,532 shares of Great-West Lifeco stock in a transaction dated Monday, November 24th. The shares were sold at an average price of C$64.51, for a total value of C$6,098,259.32. Following the sale, the director directly owned 4,916 shares in the company, valued at C$317,131.16. This trade represents a 95.06% decrease in their position. 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.