Great-West Lifeco (TSE:GWO) Issues Quarterly Earnings Results

Great-West Lifeco (TSE:GWO) posted its earnings results on Wednesday. The company reported C$1.48 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$8.70 billion during the quarter. Great-West Lifeco had a return on equity of 15.48% and a net margin of 12.49%.

Great-West Lifeco Stock Performance

TSE:GWO traded up C$1.87 during trading hours on Wednesday, reaching C$94.40. 1,072,712 shares of the company’s stock were exchanged, compared to its average volume of 1,438,527. Great-West Lifeco has a 1-year low of C$59.01 and a 1-year high of C$95.96. The company has a quick ratio of 22.18, a current ratio of 6.07 and a debt-to-equity ratio of 28.63. The firm has a market capitalization of C$84.51 billion, a price-to-earnings ratio of 19.50, a P/E/G ratio of 2.26 and a beta of 0.62. The company has a 50-day moving average of C$91.04 and a 200 day moving average of C$79.87.

Great-West Lifeco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.68 dividend on an annualized basis and a dividend yield of 2.8%. Great-West Lifeco’s dividend payout ratio (DPR) is 52.89%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD increased their price target on shares of Great-West Lifeco from C$98.00 to C$106.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Scotiabank raised their price objective on shares of Great-West Lifeco from C$95.00 to C$100.00 and gave the company a “sector outperform” rating in a research note on Thursday, July 30th. Canadian Imperial Bank of Commerce lifted their price objective on shares of Great-West Lifeco from C$95.00 to C$97.00 in a report on Thursday, July 30th. Royal Bank Of Canada upped their target price on shares of Great-West Lifeco from C$77.00 to C$91.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets increased their target price on shares of Great-West Lifeco from C$90.00 to C$92.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of C$93.18.

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.