Barclays Raises Great-West Lifeco (TSE:GWO) Price Target to C$73.00

Key Points

• Barclays raised its price target on Great-West Lifeco to C$73.00 (from C$70.00), a target that Barclays says implies about a 3.9% downside from the prior close.
• Shares jumped about 4.2% to C$75.93 midday, trading near the 52‑week high of C$76.30; the company has a market cap of C$68.82 billion and a P/E of 17.82.
• The consensus rating is a "Moderate Buy" with a consensus price target of C$72.36 (below the current share price), and an insider sold 46,413 shares (~C$2.95M) while insiders still own roughly 70.7% of the stock.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price target lifted by equities research analysts at Barclays from C$70.00 to C$73.00 in a research report issued on Thursday,BayStreet.CA reports. Barclays's price target indicates a potential downside of 3.86% from the company's previous close.

Other research analysts have also recently issued reports about the company. Desjardins upped their price objective on Great-West Lifeco from C$68.00 to C$71.00 and gave the stock a "hold" rating in a research report on Friday, April 17th. Scotiabank raised their target price on Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Jefferies Financial Group boosted their target price on Great-West Lifeco from C$70.00 to C$83.00 in a research note on Friday, May 1st. BMO Capital Markets reduced their price objective on shares of Great-West Lifeco from C$68.00 to C$66.00 and set a "market perform" rating for the company in a research report on Friday, February 13th. Finally, Royal Bank Of Canada upped their target price on shares of Great-West Lifeco from C$60.00 to C$64.00 and gave the company a "sector perform" rating in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of C$72.36.

Great-West Lifeco Stock Up 4.2%

Shares of GWO traded up C$3.07 during midday trading on Thursday, reaching C$75.93. The stock had a trading volume of 552,429 shares, compared to its average volume of 1,657,036. The company has a market cap of C$68.82 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.26 and a beta of 0.59. The company's fifty day simple moving average is C$66.57 and its two-hundred day simple moving average is C$64.73. Great-West Lifeco has a 1-year low of C$49.54 and a 1-year high of C$76.30. The company has a debt-to-equity ratio of 44.93, a current ratio of 5.80 and a quick ratio of 22.18.

Great-West Lifeco (TSE:GWO - Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported C$1.36 EPS for the quarter. Great-West Lifeco had a net margin of 10.96% and a return on equity of 13.98%. The firm had revenue of C$8.34 billion during the quarter. Equities research analysts expect that Great-West Lifeco will post 4.4525194 earnings per share for the current year.

Insider Activity

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

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.

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