Great-West Lifeco Inc. (TSE:GWO) Announces Quarterly Dividend of $0.61

Key Points

• Great-West Lifeco Inc. announced a quarterly dividend of $0.61 per share, which will be paid to stockholders on September 29th.
• The company's stock was trading at C$52.26, with a market capitalization of C$48.65 billion and a dividend yield of 4.7%.
• Analysts have mixed views on the stock, with ratings ranging from "strong buy" to "hold," and a consensus target price of C$55.56.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report) declared a quarterly dividend on Friday, August 29th, RTT News reports. Stockholders of record on Monday, September 29th will be given a dividend of 0.61 per share on Monday, September 29th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, August 29th.

Great-West Lifeco Stock Performance

Shares of TSE:GWO traded up C$0.28 during trading on Friday, reaching C$53.28. 2,593,848 shares of the stock were exchanged, compared to its average volume of 2,942,318. Great-West Lifeco has a 12-month low of C$40.16 and a 12-month high of C$57.61. The firm has a market cap of C$49.60 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The firm's 50-day moving average price is C$51.60 and its 200 day moving average price is C$51.83.

Analyst Ratings Changes

Several equities research analysts have recently commented on GWO shares. BMO Capital Markets upped their target price on Great-West Lifeco from C$55.00 to C$56.00 and gave the company a "market perform" rating in a report on Thursday. Jefferies Financial Group reduced their target price on Great-West Lifeco from C$58.00 to C$57.00 in a report on Monday, April 21st. Desjardins upped their target price on Great-West Lifeco from C$52.00 to C$55.00 and gave the company a "hold" rating in a report on Thursday. Royal Bank Of Canada set a C$53.00 target price on Great-West Lifeco and gave the company a "sector perform" rating in a report on Tuesday, April 15th. Finally, Barclays upped their target price on Great-West Lifeco from C$56.00 to C$57.00 and gave the company an "equal weight" rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$56.67.

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.