Great-West Lifeco (TSE:GWO) Hits New 1-Year High - What's Next?

Key Points

• Great-West Lifeco reached a new 52-week high of C$22.99 on Wednesday, with a market cap of C$49.15 billion.
• Several analysts have raised their price targets for Great-West Lifeco, with the consensus rating being a "Moderate Buy" and an average target price of C$56.67.
• The company announced a quarterly dividend of $0.61, representing a yield of 4.6%, alongside a stock repurchase program indicating insider confidence in the company's valuation.

Great-West Lifeco Inc. (TSE:GWO - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as C$22.99 and last traded at C$52.96, with a volume of 322340 shares changing hands. The stock had previously closed at C$53.44.

Analysts Set New Price Targets

Several research firms recently weighed in on GWO. 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 research report on Tuesday, April 15th. Scotiabank boosted their target price on Great-West Lifeco from C$59.00 to C$61.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Jefferies Financial Group decreased their target price on Great-West Lifeco from C$58.00 to C$57.00 in a research report on Monday, April 21st. BMO Capital Markets boosted their target price on Great-West Lifeco from C$55.00 to C$56.00 and gave the stock a "market perform" rating in a research report on Thursday, August 7th. Finally, Desjardins boosted their target price on Great-West Lifeco from C$52.00 to C$55.00 and gave the stock a "hold" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Great-West Lifeco presently has a consensus rating of "Moderate Buy" and an average target price of C$56.67.

Great-West Lifeco Trading Down 1.2%

The firm has a market cap of C$49.15 billion, a P/E ratio of 12.08, a PEG ratio of 2.26 and a beta of 0.84. The firm has a 50-day simple moving average of C$51.66 and a 200-day simple moving average of C$51.96.

Great-West Lifeco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 29th will be paid a $0.61 dividend. The ex-dividend date is Friday, August 29th. This represents a $2.44 dividend on an annualized basis and a yield of 4.6%. Great-West Lifeco's dividend payout ratio (DPR) is 50.79%.

Great-West Lifeco announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 5th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other Great-West Lifeco news, Senior Officer Dervla Mary Tomlin sold 36,700 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of C$51.05, for a total transaction of C$1,873,520.32. Also, Senior Officer David Martin Harney sold 20,700 shares of the stock in a transaction dated Monday, May 26th. The stock was sold at an average price of C$51.85, for a total value of C$1,073,263.95. 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.

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