Great-West Lifeco (TSE:GWO) Given New C$78.00 Price Target at Scotia

Great-West Lifeco (TSE:GWO) had its target price lifted by analysts at Scotia from C$71.00 to C$78.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Scotia’s target price points to a potential upside of 7.03% from the company’s previous close.

Other analysts have also recently issued research reports about the company. National Bank Financial set a C$65.00 price target on Great-West Lifeco and gave the company a “sector perform” rating in a report on Friday, April 24th. Scotiabank lifted their price target on Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. BMO Capital Markets decreased their target price on Great-West Lifeco from C$68.00 to C$66.00 and set a “market perform” rating for the company in a research report on Friday, February 13th. Royal Bank Of Canada raised their target price on Great-West Lifeco from C$60.00 to C$64.00 and gave the company a “sector perform” rating in a research note on Friday, February 13th. Finally, TD Securities raised their target price on Great-West Lifeco from C$70.00 to C$73.00 in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Great-West Lifeco currently has an average rating of “Moderate Buy” and an average price target of C$70.00.

Great-West Lifeco Price Performance

GWO traded up C$0.43 during trading on Wednesday, reaching C$72.88. 1,078,797 shares of the company were exchanged, compared to its average volume of 1,685,734. The company’s 50-day moving average is C$65.85 and its two-hundred day moving average is C$64.32. The company has a market cap of C$66.05 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 2.26 and a beta of 0.57. The company has a quick ratio of 22.18, a current ratio of 5.80 and a debt-to-equity ratio of 44.93. Great-West Lifeco has a 12-month low of C$49.54 and a 12-month high of C$72.97.

Great-West Lifeco (TSE:GWO) last released its quarterly earnings results on Wednesday, February 11th. The company reported C$1.36 earnings per share for the quarter. Great-West Lifeco had a return on equity of 13.98% and a net margin of 10.96%.The firm had revenue of C$8.34 billion for the quarter. Research analysts forecast that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Insider Buying and Selling at Great-West Lifeco

In other news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of C$63.46, for a total value of C$2,945,368.98. 70.70% of the stock is owned by corporate insiders.

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.