Great-West Lifeco (TSE:GWO) Stock Price Expected to Rise, TD Securities Analyst Says

Great-West Lifeco (TSE:GWO) had its price target boosted by investment analysts at TD Securities from C$70.00 to C$73.00 in a research note issued on Wednesday,BayStreet.CA reports. TD Securities’ target price suggests a potential upside of 9.53% from the company’s current price.

Several other equities research analysts have also weighed in on GWO. Royal Bank Of Canada increased their target price on Great-West Lifeco from C$53.00 to C$60.00 in a research report on Monday, November 10th. Barclays increased their price objective on Great-West Lifeco from C$59.00 to C$70.00 in a report on Friday, January 9th. UBS Group upgraded Great-West Lifeco to a “strong-buy” rating in a research report on Thursday, October 16th. Desjardins lifted their price objective on shares of Great-West Lifeco from C$55.00 to C$60.00 and gave the company a “hold” rating in a research note on Wednesday, October 15th. Finally, CIBC raised their target price on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$64.33.

Great-West Lifeco Stock Up 0.6%

Shares of TSE:GWO traded up C$0.43 on Wednesday, reaching C$66.65. 361,890 shares of the company’s stock were exchanged, compared to its average volume of 1,010,429. The business’s 50-day moving average is C$65.08 and its two-hundred day moving average is C$58.35. Great-West Lifeco has a fifty-two week low of C$44.89 and a fifty-two week high of C$68.56. The firm has a market capitalization of C$60.46 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.26 and a beta of 0.72.

Great-West Lifeco (TSE:GWO) last released its quarterly earnings data 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 firm had revenue of C$8.21 billion for the quarter. Analysts predict that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Insider Activity at Great-West Lifeco

In related news, Director Edmund Francis Murphy sold 94,532 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of C$64.51, for a total transaction of C$6,098,259.32. Following the completion of the sale, the director directly owned 4,916 shares of the company’s stock, valued at C$317,131.16. This represents a 95.06% decrease in their ownership of the stock. 70.70% of the stock is owned by 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.