Great-West Lifeco (TSE:GWO) Given New C$107.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group raised its price target on Great-West Lifeco from C$84.00 to C$107.00 and kept a buy rating, implying about 16% upside from the prior close.
• Several other analysts also lifted their targets on the stock, and MarketBeat now shows a Moderate Buy consensus with an average target price of C$84.55.
• Great-West Lifeco shares recently traded near C$92.12, close to their 52-week high of C$93.69, after the company reported quarterly EPS of C$1.37 and revenue of C$8.37 billion.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price target increased by Jefferies Financial Group from C$84.00 to C$107.00 in a research report issued on Tuesday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. Jefferies Financial Group's target price indicates a potential upside of 16.15% from the company's previous close.

Several other research firms also recently issued reports on GWO. BMO Capital Markets boosted their price objective on Great-West Lifeco from C$70.00 to C$76.00 in a report on Friday, May 8th. Desjardins lifted their target price on shares of Great-West Lifeco from C$71.00 to C$80.00 and gave the stock a "hold" rating in a research report on Friday, May 8th. TD boosted their price target on shares of Great-West Lifeco from C$73.00 to C$80.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Barclays upped their price target on shares of Great-West Lifeco from C$70.00 to C$73.00 in a research report on Thursday, May 7th. Finally, Scotia raised their price objective on shares of Great-West Lifeco from C$78.00 to C$83.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Great-West Lifeco presently has a consensus rating of "Moderate Buy" and an average target price of C$84.55.

Great-West Lifeco Price Performance

Shares of GWO traded up C$0.39 during trading hours on Tuesday, hitting C$92.12. 212,353 shares of the company were exchanged, compared to its average volume of 1,653,268. The company has a market capitalization of C$82.73 billion, a PE ratio of 19.81, a PEG ratio of 2.26 and a beta of 0.67. The company has a debt-to-equity ratio of 29.59, a current ratio of 6.57 and a quick ratio of 22.18. The firm has a fifty day simple moving average of C$85.07 and a 200-day simple moving average of C$72.73. Great-West Lifeco has a one year low of C$51.60 and a one year high of C$93.69.

Great-West Lifeco (TSE:GWO - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported C$1.37 earnings per share (EPS) for the quarter. Great-West Lifeco had a return on equity of 15.17% and a net margin of 12.86%.The company had revenue of C$8.37 billion for the quarter. As a group, sell-side analysts predict 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 Great-West Lifeco news, Director Mei Dong sold 39,400 shares of the stock in a transaction that occurred on 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 owned 2,721 shares in the company, valued at C$207,693.93. This represents a 93.54% decrease in their position. Also, insider Jean-Francois Poulin sold 20,000 shares of Great-West Lifeco stock in a transaction on 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 sale, the insider directly owned 160 shares of the company's stock, valued at C$14,328. This trade represents a 99.21% decrease in their position. In the last quarter, insiders have sold 119,200 shares of company stock worth $9,821,888. 70.70% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.