Great-West Lifeco (TSE:GWO) Price Target Raised to C$81.00 at Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce raised its price target on Great-West Lifeco to C$81.00 from C$75.00, implying about 6.22% upside from the previous close.
• Other analysts have also been lifting their targets, and the stock now carries a consensus rating of Moderate Buy with an average price target of C$77.18.
• Great-West Lifeco recently reported quarterly EPS of C$1.37 and revenue of C$8.37 billion; the shares traded at C$76.26 on Friday, near their 52-week high of C$77.04.

Great-West Lifeco (TSE:GWO - Get Free Report) had its price objective hoisted by equities research analysts at Canadian Imperial Bank of Commerce from C$75.00 to C$81.00 in a report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's target price would suggest a potential upside of 6.22% from the stock's previous close.

Several other analysts have also issued reports on the company. National Bank Financial set a C$65.00 price objective on Great-West Lifeco and gave the company a "sector perform" rating in a research note on Friday, April 24th. Scotia boosted their target price on Great-West Lifeco from C$71.00 to C$78.00 in a report on Wednesday, April 29th. BMO Capital Markets increased their price target on Great-West Lifeco from C$70.00 to C$76.00 in a research note on Friday. TD Securities lifted their price objective on shares of Great-West Lifeco from C$70.00 to C$73.00 in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada upped their price objective on shares of Great-West Lifeco from C$60.00 to C$64.00 and gave the company a "sector perform" rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Great-West Lifeco currently has an average rating of "Moderate Buy" and a consensus price target of C$77.18.

Great-West Lifeco Stock Performance

GWO stock traded down C$0.10 during trading hours on Friday, reaching C$76.26. The stock had a trading volume of 504,991 shares, compared to its average volume of 1,655,716. The stock has a 50-day simple moving average of C$66.82 and a 200 day simple moving average of C$64.86. Great-West Lifeco has a fifty-two week low of C$49.71 and a fifty-two week high of C$77.04. The stock has a market capitalization of C$69.12 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.59. The company has a debt-to-equity ratio of 44.93, a current ratio of 5.80 and a quick ratio of 22.18.

Great-West Lifeco (TSE:GWO - Get Free Report) last issued 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 net margin of 10.96% and a return on equity of 13.98%. The company had revenue of C$8.37 billion for the quarter. Analysts predict 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 shares were sold at an average price of C$63.46, for a total value of C$2,945,368.98. Corporate insiders own 70.70% of the company's stock.

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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