Great-West Lifeco (TSE:GWO) Price Target Raised to C$76.00

Great-West Lifeco (TSE:GWO) had its price target boosted by research analysts at BMO Capital Markets from C$70.00 to C$76.00 in a research report issued on Friday,BayStreet.CA reports. BMO Capital Markets’ price target would suggest a potential downside of 0.34% from the stock’s previous close.

Several other research firms also recently weighed in on GWO. 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 note on Thursday, February 5th. Desjardins upped their price objective on shares of Great-West Lifeco from C$68.00 to C$71.00 and gave the company a “hold” rating in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce raised their target price on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. National Bank Financial set a C$65.00 target price on shares of Great-West Lifeco and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Finally, Jefferies Financial Group boosted their target price on Great-West Lifeco from C$70.00 to C$83.00 in a report on Friday, May 1st. One 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 company’s stock. According to data from MarketBeat.com, Great-West Lifeco has a consensus rating of “Moderate Buy” and an average target price of C$77.18.

Great-West Lifeco Price Performance

Shares of GWO traded down C$0.10 during trading hours on Friday, hitting C$76.26. 504,991 shares of the stock were exchanged, compared to its average volume of 1,655,716. The stock’s 50-day moving average price is C$66.82 and its two-hundred day moving average price is C$64.86. Great-West Lifeco has a 12-month low of C$49.71 and a 12-month high of C$77.04. The company has a debt-to-equity ratio of 44.93, a quick ratio of 22.18 and a current ratio of 5.80. The company has a market cap of C$69.12 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59.

Great-West Lifeco (TSE:GWO) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$1.37 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 company had revenue of C$8.37 billion for the quarter. Research analysts expect that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Buying and Selling

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