Canadian Imperial Bank of Commerce Increases Great-West Lifeco (TSE:GWO) Price Target to C$95.00

Great-West Lifeco (TSE:GWO) had its price objective boosted by equities researchers at Canadian Imperial Bank of Commerce from C$81.00 to C$95.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 2.65% from the stock’s current price.

A number of other research analysts have also recently commented on GWO. BMO Capital Markets increased their target price on Great-West Lifeco from C$70.00 to C$76.00 in a research note on Friday, May 8th. Barclays upped their price objective on Great-West Lifeco from C$70.00 to C$73.00 in a report on Thursday, May 7th. TD increased their price objective on Great-West Lifeco from C$73.00 to C$80.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Desjardins raised their price objective on Great-West Lifeco from C$71.00 to C$80.00 and gave the company a “hold” rating in a report on Friday, May 8th. Finally, Jefferies Financial Group boosted their target price on Great-West Lifeco from C$70.00 to C$83.00 in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$80.73.

Great-West Lifeco Price Performance

Shares of TSE:GWO traded up C$1.30 during trading on Wednesday, reaching C$92.55. The company had a trading volume of 309,583 shares, compared to its average volume of 1,679,431. The company has a fifty day moving average of C$83.70 and a two-hundred day moving average of C$72.03. The stock has a market capitalization of C$83.11 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. Great-West Lifeco has a 12 month low of C$51.40 and a 12 month high of C$92.97. The company has a current ratio of 6.57, a quick ratio of 22.18 and a debt-to-equity ratio of 29.59.

Great-West Lifeco (TSE:GWO) last posted 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 net margin of 12.86% and a return on equity of 15.17%. The firm had revenue of C$8.37 billion for the quarter. Equities research analysts forecast that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Buying and Selling at Great-West Lifeco

In other news, Director Edmund Francis Murphy sold 40,000 shares of Great-West Lifeco stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the transaction, the director owned 8,784 shares in the company, valued at approximately C$757,180.80. The trade was a 81.99% decrease in their ownership of the stock. Also, Director Mei Dong sold 39,400 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$76.33, for a total value of C$3,007,402.00. Following the completion of the sale, the director directly owned 2,721 shares of the company’s stock, valued at approximately C$207,693.93. This trade represents a 93.54% decrease in their position. Insiders sold a total of 119,200 shares of company stock worth $9,821,888 over the last three months. Company insiders own 70.70% of the company’s stock.

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.