Great-West Lifeco (TSE:GWO) Given New C$83.00 Price Target at Scotia

Great-West Lifeco (TSE:GWO) had its price objective upped by Scotia from C$78.00 to C$83.00 in a report published on Friday morning,BayStreet.CA reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities research analysts have also commented on GWO. Barclays boosted their price target on Great-West Lifeco from C$70.00 to C$73.00 in a research note on Thursday. Royal Bank Of Canada boosted their price target on Great-West Lifeco from C$64.00 to C$77.00 in a research note on Friday. Desjardins boosted their price target on Great-West Lifeco from C$68.00 to C$71.00 and gave the stock a “hold” rating in a research note on Friday, April 17th. TD boosted their price target on Great-West Lifeco from C$73.00 to C$80.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Canadian Imperial Bank of Commerce lifted their price target on Great-West Lifeco from C$75.00 to C$81.00 in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$77.18.

Great-West Lifeco Stock Performance

TSE:GWO opened at C$76.27 on Friday. The company has a quick ratio of 22.18, a current ratio of 6.57 and a debt-to-equity ratio of 29.59. Great-West Lifeco has a fifty-two week low of C$49.71 and a fifty-two week high of C$77.04. The stock has a market cap of C$68.49 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59. The firm’s fifty day simple moving average is C$66.82 and its 200-day simple moving average is C$64.86.

Great-West Lifeco (TSE:GWO) last posted its quarterly earnings results on Wednesday, May 6th. The company reported C$1.37 earnings per share for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The business had revenue of C$8.37 billion for the quarter. Analysts expect that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Great-West Lifeco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a dividend of $0.67 per share. This is a positive change from Great-West Lifeco’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. Great-West Lifeco’s dividend payout ratio is 53.76%.

Insider Buying and Selling at Great-West Lifeco

In related news, insider L.P. Great-West Lifeco U.S. Holdings sold 46,413 shares of the stock in a transaction on 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 currently owned by company insiders.

Great-West Lifeco News Summary

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

• Positive Sentiment: Scotia raised its price target to C$83 and reiterated a “sector outperform” rating, signaling one of the most bullish views among the recent analyst updates. Scotia raises Great-West Lifeco price target
• Positive Sentiment: TD lifted its target to C$80 from C$73 and kept a “buy” rating, reinforcing confidence in the company’s near-term prospects. TD raises Great-West Lifeco price target
• Positive Sentiment: Canadian Imperial Bank of Commerce increased its target to C$81 from C$75, implying additional upside versus the current share price. CIBC raises Great-West Lifeco price target
• Positive Sentiment: Royal Bank of Canada, Desjardins, and Barclays all raised their targets as well, adding to the sense that analysts see more value in the stock after earnings. RBC, Desjardins, and Barclays raise Great-West Lifeco targets
• Positive Sentiment: The company’s latest quarter showed EPS of C$1.37 on revenue of C$8.37 billion, with a 10.96% net margin and 13.98% return on equity, which appears to have helped fuel the upbeat analyst revisions. Great-West Lifeco earnings report and transcript
• Neutral Sentiment: The company also announced the election of directors, which is routine governance news and likely not a major stock driver. Great West announces election of Directors

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.