Great-West Lifeco (TSE:GWO) Given New C$78.00 Price Target at Scotia

Key Points

• Scotia raised its price target on Great‑West Lifeco to C$78.00 (from C$71.00), implying about a 7.03% upside from the current share price.
• Several other analysts have also lifted targets recently and the consensus rating is a "Moderate Buy" with an average price target of C$70.00.
• The stock traded near C$72.88 with a market cap of C$66.05B and a PE of 17.11, while insiders sold roughly 46,413 shares in late March.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price target lifted by investment analysts at Scotia from C$71.00 to C$78.00 in a report released on Wednesday,BayStreet.CA reports. Scotia's price objective points to a potential upside of 7.03% from the company's current price.

GWO has been the topic of several other reports. Canadian Imperial Bank of Commerce raised their target price on shares of Great-West Lifeco from C$67.00 to C$73.00 and gave the stock an "outperform" rating in a report on Thursday, January 8th. Scotiabank raised their target price on shares of Great-West Lifeco from C$68.00 to C$70.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Barclays raised their target price on shares of Great-West Lifeco from C$59.00 to C$70.00 in a report on Friday, January 9th. Desjardins raised their price target on shares of Great-West Lifeco from C$68.00 to C$71.00 and gave the stock a "hold" rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada raised their price target on shares of Great-West Lifeco from C$60.00 to C$64.00 and gave the stock a "sector perform" rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of C$70.00.

Great-West Lifeco Price Performance

TSE:GWO traded up C$0.43 during mid-day trading on Wednesday, reaching C$72.88. 1,078,797 shares of the company were exchanged, compared to its average volume of 1,685,734. The company has a quick ratio of 22.18, a current ratio of 5.80 and a debt-to-equity ratio of 44.93. Great-West Lifeco has a 12 month low of C$49.54 and a 12 month high of C$72.97. The stock has a market cap of C$66.05 billion, a PE ratio of 17.11, a PEG ratio of 2.26 and a beta of 0.57. The company has a fifty day moving average of C$65.85 and a 200 day moving average of C$64.32.

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

Insider Buying and Selling at Great-West Lifeco

In other 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 transaction of C$2,945,368.98. 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.

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