Great-West Lifeco (TSE:GWO) Given New C$95.00 Price Target at National Bank Financial

Key Points

• National Bank Financial raised Great-West Lifeco’s price target to C$95 from C$93 while maintaining a “sector perform” rating, implying 4.5% upside from the prior close.
• Analyst sentiment is broadly positive, with the stock carrying a “Moderate Buy” consensus rating and an average target price of C$88.55; individual targets range from C$73 to C$107.
• Great-West Lifeco reported quarterly earnings of C$1.42 per share on C$8.35 billion in revenue, while the stock fell 1.1% to C$90.91. Insiders sold 119,200 shares worth approximately $9.8 million over the past three months.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective increased by equities researchers at National Bank Financial from C$93.00 to C$95.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. National Bank Financial's target price suggests a potential upside of 4.50% from the company's previous close.

A number of other research analysts have also issued reports on the company. Desjardins lifted their target price on Great-West Lifeco from C$71.00 to C$80.00 and gave the company a "hold" rating in a report on Friday, May 8th. TD upped their price target on Great-West Lifeco from C$80.00 to C$98.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Scotia increased 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 research report on Friday, May 8th. Jefferies Financial Group boosted their price objective on Great-West Lifeco from C$84.00 to C$107.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Barclays upped their target price on shares of Great-West Lifeco from C$70.00 to C$73.00 in a research note on Thursday, May 7th. One 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's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of C$88.55.

Great-West Lifeco Trading Down 1.1%

TSE GWO traded down C$0.99 during trading hours on Wednesday, reaching C$90.91. The company had a trading volume of 725,453 shares, compared to its average volume of 1,621,602. The stock has a 50-day moving average of C$86.85 and a 200 day moving average of C$73.76. Great-West Lifeco has a 1-year low of C$51.60 and a 1-year high of C$93.69. The company has a current ratio of 6.57, a quick ratio of 22.18 and a debt-to-equity ratio of 29.59. The stock has a market capitalization of C$81.64 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

Great-West Lifeco (TSE:GWO - Get Free Report) last announced its earnings results on Tuesday, July 28th. The company reported C$1.42 earnings per share for the quarter. Great-West Lifeco had a net margin of 12.86% and a return on equity of 15.17%. The firm had revenue of C$8.35 billion for the quarter. As a group, research analysts anticipate that Great-West Lifeco will post 4.4525194 earnings per share for the current fiscal year.

Insider Activity at Great-West Lifeco

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

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