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

Great-West Lifeco (TSE:GWO) issued its quarterly earnings data on Tuesday. The company reported C$1.42 earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of C$8.35 billion during the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%.

Great-West Lifeco Stock Up 0.0%

GWO traded up C$0.02 during trading hours on Tuesday, hitting C$91.90. 1,069,072 shares of the company’s stock were exchanged, compared to its average volume of 1,628,050. The stock has a market cap of C$82.53 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.26 and a beta of 0.67. Great-West Lifeco has a 1-year low of C$51.60 and a 1-year high of C$93.69. The stock’s 50-day moving average is C$86.57 and its two-hundred day moving average is C$73.59. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $2.68 annualized dividend and a yield of 2.9%. Great-West Lifeco’s dividend payout ratio is presently 53.76%.

Analyst Ratings Changes

GWO has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on shares of Great-West Lifeco from C$84.00 to C$107.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Scotia boosted their price target on Great-West Lifeco from C$78.00 to C$83.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. TD boosted their price target on Great-West Lifeco from C$80.00 to C$98.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Barclays upped their price objective on Great-West Lifeco from C$70.00 to C$73.00 in a research report on Thursday, May 7th. Finally, Royal Bank Of Canada increased their price objective on Great-West Lifeco from C$64.00 to C$77.00 in a report on Friday, May 8th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$86.36.

Insider Buying and Selling at Great-West Lifeco

In other news, insider Jean-Francois Poulin sold 20,000 shares of the stock in a transaction dated Friday, June 19th. The shares were sold at an average price of C$89.55, for a total transaction of C$1,791,000.00. Following the completion of the transaction, the insider directly owned 160 shares in the company, valued at C$14,328. This represents a 99.21% decrease in their position. Also, Director Edmund Francis Murphy sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of C$86.20, for a total value of C$3,448,000.00. Following the completion of the transaction, the director owned 8,784 shares of the company’s stock, valued at C$757,180.80. The trade was a 81.99% decrease in their position. In the last three months, insiders have sold 119,200 shares of company stock worth $9,821,888. 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.