Great-West Lifeco (TSE:GWO) Price Target Raised to C$106.00

Great-West Lifeco (TSE:GWO) had its target price hoisted by TD from C$98.00 to C$106.00 in a report published on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Royal Bank Of Canada increased their price target on Great-West Lifeco from C$64.00 to C$77.00 in a research note on Friday, May 8th. Jefferies Financial Group upped their price objective on shares of Great-West Lifeco from C$84.00 to C$107.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Desjardins increased their target price 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. BMO Capital Markets raised their target price on shares of Great-West Lifeco from C$70.00 to C$76.00 in a research note on Friday, May 8th. Finally, Barclays boosted their price target on shares of Great-West Lifeco from C$86.00 to C$87.00 in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$93.27.

Great-West Lifeco Trading Up 1.2%

TSE GWO opened at C$92.94 on Wednesday. The company has a market capitalization of C$83.46 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The company has a debt-to-equity ratio of 28.63, a current ratio of 6.07 and a quick ratio of 22.18. Great-West Lifeco has a 12 month low of C$51.60 and a 12 month high of C$93.69. The company’s fifty day moving average price is C$87.60 and its two-hundred day moving average price is C$74.23.

Great-West Lifeco (TSE:GWO) last released its earnings results on Tuesday, July 28th. The company reported C$1.42 earnings per share for the quarter. The company had revenue of C$8.35 billion during the quarter. Great-West Lifeco had a net margin of 12.49% and a return on equity of 15.48%. As a group, research analysts predict that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Great-West Lifeco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.9%. Great-West Lifeco’s payout ratio is 52.89%.

Insider Activity

In other news, insider Jean-Francois Poulin sold 20,000 shares of the company’s stock in a transaction on Friday, June 19th. The stock was sold at an average price of C$89.55, for a total transaction of C$1,791,000.00. Following the completion of the sale, the insider directly owned 160 shares of the company’s stock, valued at C$14,328. This represents a 99.21% decrease in their ownership of the stock. Also, Director Edmund Francis Murphy sold 40,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the completion of the transaction, the director owned 8,784 shares of the company’s stock, valued at C$757,180.80. This trade represents a 81.99% decrease in their position. Insiders sold a total of 119,200 shares of company stock valued at $9,821,888 over the last three months. Insiders own 70.70% of the company’s stock.

Key Headlines Impacting Great-West Lifeco

Here are the key news stories impacting Great-West Lifeco this week:

• Positive Sentiment: Management’s earnings call highlighted continued growth momentum, supporting confidence in Great-West Lifeco’s earnings outlook and business performance. Great-West Lifeco Earnings Call Highlights Growth Momentum
• Positive Sentiment: Scotiabank raised its price target to C$100 from C$95 and assigned a “sector outperform” rating, implying meaningful potential appreciation. CIBC also lifted its target to C$97 from C$95, while Desjardins raised its target to C$95 from C$93. Analyst Ratings
• Positive Sentiment: Barclays expects Great-West Lifeco’s stock to rise, adding to the favorable analyst sentiment surrounding the company. Barclays Great-West Lifeco Stock Forecast
• Positive Sentiment: National Bank Financial forecast strong price appreciation for the shares, reinforcing expectations for further upside. National Bank Financial Great-West Lifeco Forecast
• Neutral Sentiment: BMO raised its target to C$92 from C$90 but retained a “market perform” rating, while RBC increased its target to C$91 from C$77 and maintained “sector perform.” These revisions acknowledge improved valuation but suggest limited near-term upside under their assumptions. Analyst Ratings

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.